Published on 4/19/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million callable contingent income securities on three indexes
New York, April 19 – Morgan Stanley Finance LLC priced $1 million of callable contingent income securities due Oct. 15, 2026 linked to the Nasdaq-100 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on every trading day during the relevant observation period.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing index finishes below its 65% 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
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Guarantor: | Morgan Stanley
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Issue: | Callable contingent income securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $1 million
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Maturity: | Oct. 15, 2026
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Coupon: | 12%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on every trading day during the relevant observation period
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Price: | Par
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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
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Call option: | At par on any quarterly call date
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Initial levels: | 18,011.65 for Nasdaq-100, 2,028.389 for Russell 2000, 5,000.83 for Euro Stoxx 50
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Downside thresholds: | 11,707.573 for Nasdaq-100, 1,318.453 for Russell 2000, 3,250.540 for Euro Stoxx 50, 65% of initial levels
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Coupon barriers: | 12,608.155 for Nasdaq-100, 1,419.872 for Russell 2000, 3,500.581 for Euro Stoxx 50, 70% of initial levels
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Strike date: | April 10
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Pricing date: | April 11
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Settlement date: | April 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.2%
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Cusip: | 61776LUG0
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