Published on 8/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 contingent income buffered autocallables on silver, gold
Chicago, Aug. 14 – Morgan Stanley Finance LLC priced $250,000 of contingent income buffered autocallable securities due April 30, 2026 linked to the worst performing of the iShares Silver Trust and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if the underlying fund closes at or above its 80% coupon barrier on the related monthly observation date.
The securities will be called automatically starting Jan. 31, 2024 at par on any quarterly call determination date if both ETFs close above their initial levels.
At maturity the payout will be par unless the fund declines by more than its 15% buffer in which case investors will be exposed to the decline of the fund beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Contingent income buffered autocallable securities
|
Underlying ETFs: | iShares Silver Trust and VanEck Gold Miners ETF
|
Amount: | $250,000
|
Maturity: | April 30, 2026
|
Coupon: | 10% annual rate, paid monthly, if the underlying fund closes at or above its 80% coupon barrier on the related monthly observation date
|
Price: | Par
|
Payout at maturity: | Par if the fund gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline in the fund beyond the buffer
|
Call: | Automatically starting Jan. 31, 2024 at par on any quarterly call determination date if both ETFs close above initial levels
|
Initial levels: | $22.91 for silver, $31.65 for gold
|
Coupon barriers: | $18.328 for silver, $25.32 for gold, 80% of initial levels
|
Buffer levels: | $19.474 for silver, $26.903 for gold, 85% of initial levels
|
Buffer: | 15%
|
Pricing date: | July 26
|
Settlement date: | July 31
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 2.6%
|
Cusip: | 61775HFB8
|
|
© 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.