Published on 9/14/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.08 million 11.1% contingent income autocallables on Dow, Nasdaq, S&P
New York, Sept. 14 – Morgan Stanley Finance LLC priced $4.08 million of contingent income autocallable securities due March 13, 2025 linked to the Dow Jones industrial average, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 11.1%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Sept. 11, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any semiannual determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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Amount: | $4,075,000
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Maturity: | March 13, 2025
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Coupon: | 11.1%, payable monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly 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 Sept. 11, 2023 at par if the level of each underlying index is greater than or equal to its initial level on any semiannual determination date
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Initial levels: | 32,151.71 for Dow Jones industrial average, 12,588.29 for Nasdaq-100, 4,067.36 for S&P 500
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Downside thresholds: | 22,506.197 for Dow Jones industrial average, 8,811.803 for Nasdaq-100, 2,847.152 for S&P 500, 70% of initial level
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Coupon barriers: | 25,721.368 for Dow Jones industrial average, 10,070.632 for Nasdaq-100 index, 3,253.888 for S&P 500 index, 80% of initial levels
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Pricing date: | Sept. 9
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Settlement date: | Sept. 14
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.5%
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Cusip: | 61774FFR8
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