Published on 5/3/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.68 million of market-linked securities on three indexes
Chicago, May 3 – Morgan Stanley Finance LLC priced $2.68 million of 0% market-linked securities – autocallable with contingent downside due May 5, 2028 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called early at par plus a 13.15% annualized premium if all three indexes close above their initial levels on any of the quarterly calculation date starting after one year.
The maturity date premium is 52.6%.
If the notes are not called, the payout at maturity will be par if all three indexes close above the 75% threshold. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Morgan Stanley is the guarantor.
Wells Fargo Securities LLC and Morgan Stanley are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Market-linked securities – autocallable with contingent downside
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| Underlying indexes: | S&P 500 index, Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $2,681,000
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| Maturity: | May 5, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If called, par plus 52.6%; if not called, par unless any index falls below the 70% threshold, in which case investors will be fully exposed to any decline of the worst performing index
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| Call: | Par plus 13.15% annualized premium if all three indexes close above initial levels on quarterly call calculation date starting after one year
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| Initial levels: | 5,035.69 for S&P, 1,973.906 for Russell, 4,921.22 for Stoxx
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| Threshold levels: | 3,776.7675 for S&P, 1,480.4295 for Russell, 3,690.915 for Stoxx; 75% of initial levels
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| Pricing date: | April 30
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| Settlement date: | May 6
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| Agents: | Wells Fargo Securities LLC and Morgan Stanley
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| Fees: | 2.575%
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| Cusip: | 61776LVK0
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