Published on 8/22/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.12 million contingent income buffered autocalls on indexes, ETF
By William Gullotti
Buffalo, N.Y., Aug. 22 – Morgan Stanley Finance LLC priced $1.12 million of contingent income buffered autocallable securities due Aug. 14, 2025 linked to the performance of the Nasdaq-100 index, the S&P 500 index and the Energy Select Sector SPDR Fund, according to a 424B2 filed with the Securities and Exchange Commission.
The securities are guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annual rate of 8% if each underlier closes at or above its 75% coupon barrier on the corresponding observation date.
The notes will be called at par plus coupon if each underlier closes at or above its initial level on any monthly review date after three months.
The payout at maturity will be par plus the final coupon if each underlier finishes at or above its 75% buffer level. Otherwise, investors will lose 1% for every 1% decline of the worst performer below 25%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Issue: | Contingent income buffered autocallable securities
|
| Guarantor: | Morgan Stanley
|
| Underlying assets: | Nasdaq-100 index, S&P 500 index, Energy Select Sector SPDR Fund
|
| Amount: | $1,124,000
|
| Maturity: | Aug. 14, 2025
|
| Coupon: | 8% annualized, payable monthly if each underlier closes at or above coupon barrier on review date on the relevant review date
|
| Price: | Par
|
| Payout at maturity: | If each underlier finishes at or above buffer level, par plus final coupon; otherwise, 1% loss for each 1% decline of worst performing underlier below 25%
|
| Call: | At par plus coupon if each underlier closes at or above its initial level on any monthly call date after three months
|
| Initial levels: | $89.90 for ETF, 15,028.07 for Nasdaq, 4,464.05 for S&P
|
| Coupon barrier levels: | $67.425 for ETF, 11,271.053 for Nasdaq, 3,348.038 for S&P; 75% of initial levels
|
| Buffer levels: | $67.425 for ETF, 11,271.053 for Nasdaq, 3,348.038 for S&P; 75% of initial levels
|
| Pricing date: | Aug. 11
|
| Settlement date: | Aug. 16
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.03%
|
| Cusip: | 61775HWT0
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
