Published on 4/10/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $938,000 9.15% contingent income autocalls on Russell, Nasdaq, S&P
By Kiku Steinfeld
Chicago, April 10 – Morgan Stanley Finance LLC priced $938,000 of contingent income autocallable securities due Dec. 19, 2024 linked to the Nasdaq-100 index, S&P 500 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 65% downside threshold on the related quarterly observation date.
The securities will be called automatically starting March 21, 2023 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 65% 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 with Morgan Stanley Wealth Management acting as a selected dealer.
| 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: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $938,000
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| Maturity: | Dec. 19, 2024
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| Coupon: | 9.15%, paid quarterly, if each underlying index closes at or above its 65% downside threshold 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 March 21, 2023 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: | 11,243.72 for Nasdaq, 1,763.420 for Russell, 3,852.36 for S&P
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| Downside thresholds: | 7,308.418 for Nasdaq, 1,146.223 for Russell, 2,504.034 for S&P, 65% of initial level
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| Pricing date: | Dec. 16
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| Settlement date: | Dec. 21
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as selected dealer
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| Fees: | 2%
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| Cusip: | 61774TCH3
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