Published on 4/11/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.07 million contingent market-linked callable notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 11 – Morgan Stanley Finance LLC priced $2.07 million of market-linked securities due Oct. 7, 2027 – callable with contingent coupon with daily observation and contingent downside – linked to the lowest performing of the Russell 2000 index, the Euro Stoxx 50 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an 10% rate if all indexes close above their 70% interest barrier levels every day that period.
The notes will be callable on any quarterly observation date.
The payout at maturity will be par unless any index finishes below its 60% downside threshold, in which case the payout will be par plus the return of the worst performing index with full exposure to losses.
Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Market linked securities – callable with contingent coupon with daily observation and contingent downside
|
| Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index, Nasdaq-100 index
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| Amount: | $2,071,000
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| Maturity: | Oct. 7, 2027
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| Coupon: | 10% annual rate, payable quarterly if all indexes finish above interest barrier levels every day that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below downside threshold, in which case 1% loss per 1% decline of the worst performing index from its initial level
|
| Call: | At par on any quarterly observation date
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| Initial levels: | 5,070.76 for Euro Stoxx, 2,053.828 for Russell, 17,878.78 for Nasdaq
|
| Interest barrier levels: | 3,549.532 for Euro Stoxx, 1,437.6796 for Russell, 12,515.146 for Nasdaq; 70% of initial levels
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| Downside thresholds: | 3,042.456 for Euro Stoxx, 1,232.2968 for Russell, 10,727.268 for Nasdaq; 60% of initial levels
|
| Pricing date: | April 4
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| Settlement date: | April 9
|
| Agent: | Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
|
| Fees: | 1.525%
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| Cusip: | 61776LQF7
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