Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2 million callable contingent income securities on three indexes
New York, April 23 – Morgan Stanley Finance LLC priced $2 million of callable contingent income securities due April 22, 2026 linked to the Dow Jones industrial average, the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting Oct. 22, 2024.
At maturity, the payout will be par unless the worst performing index finishes below its 75% downside threshold, 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
|
Guarantor: | Morgan Stanley
|
Issue: | Callable contingent income securities
|
Underlying indexes: | Dow Jones industrial average, Russell 2000 index and MSCI Emerging Markets index
|
Amount: | $2 million
|
Maturity: | April 22, 2026
|
Coupon: | 10%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date
|
Price: | Par
|
Payout at maturity: | Par unless the worst performing index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing index
|
Call option: | At par on any quarterly call date starting Oct. 22, 2024
|
Initial levels: | 37,753.31 for Dow Jones industrial average, 1,012.46 for MSCI Emerging Markets, 1,947.947 for Russell 2000
|
Downside thresholds: | 28,314.983 for Dow Jones industrial average, 759.345 for MSCI Emerging Markets, 1,460.960 for Russell 2000, 75% of initial levels
|
Pricing date: | April 17
|
Settlement date: | April 22
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 1.75%
|
Cusip: | 61776LWE3
|
|
|
© 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.