Published on 3/3/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.88 million contingent income autocallables on indexes
Chicago, March 4 – Morgan Stanley Finance LLC priced $1.88 million of contingent income autocallable securities due Aug. 27, 2026 linked to the worst performing of the S&P 500 index, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.15%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting Aug. 22, 2024 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 75% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Contingent income autocallable securities
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Underlying indexes: | S&P 500 index, Nasdaq-100 index and Russell 2000 index
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Amount: | $1,877,000
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Maturity: | Aug. 27, 2026
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Coupon: | 9.15% annual rate, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
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Call: | Automatically starting Aug. 22, 2024 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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Initial levels: | 18,004.70 for Nasdaq, 2,013.838 for Russell, 5,087.03 for S&P
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Coupon barriers: | 14,403.76 for Nasdaq, 1,611.070 for Russell, 4,069.624 for S&P, 80% of initial levels
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Downside thresholds: | 13,503.525 for Nasdaq, 1,510.379 for Russell, 3,815.273 for S&P, 75% of initial level
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Pricing date: | Feb. 22
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Settlement date: | Feb. 29
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.5%
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Cusip: | 61771WK31
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