Published on 11/2/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $4.09 million fixed income autocallables tied to three indexes
Chicago, Nov. 2 – Morgan Stanley Finance LLC priced $4.09 million of 7.65% fixed income autocallable securities due May 1, 2025 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly determination date after one year.
If the final level of each index is greater than or equal to 75% of its initial level, the payout at maturity will be par plus the last fixed coupon. Otherwise, investors will lose 1% for every 1% that the worst performer declined from its initial level.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Fixed income autocallable securities
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Underlying indexes: | S&P 500 index, Nasdaq-100 index, Dow Jones industrial average
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Amount: | $4,092,000
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Maturity: | May 1, 2025
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Coupon: | 7.65% annual rate, payable monthly
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Price: | Par
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Payout at maturity: | If final level of each index is greater than or equal to barrier level, par plus last fixed coupon; otherwise, 1% loss for every 1% decline of worst performer from initial level
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Call: | At par plus coupon if each index closes at or above its initial level on any quarterly determination date after one year
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Initial index levels: | 14,180.42 for Nasdaq, 4,117.37 for S&P, 32,417.59 for Dow
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Final barrier levels: | 10,635.315 for Nasdaq, 3,088.028 for S&P, 24,313.193 for Dow; 75% of initial levels
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Pricing date: | Oct. 27
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Settlement date: | Nov. 1
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3%
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Cusip: | 61775MSE7
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