Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6 million callable contingent income securities on three indexes
New York, April 23 – Morgan Stanley Finance LLC priced $6 million of callable contingent income securities due April 22, 2027 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.6%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on every trading day during the 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 70% 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 S&P 500 index
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| Amount: | $6 million
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| Maturity: | April 22, 2027
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| Coupon: | 13.6%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on every trading day during the 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: | 17,493.62 for Nasdaq-100, 1,947.947 for Russell 2000, 5,022.21 for S&P 500
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| Downside thresholds: | 12,245.534 for Nasdaq-100, 1,363.563 for Russell 2000, 3,515.547 for S&P 500, 70% of initial levels
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| Coupon barriers: | 13,120.215 for Nasdaq-100, 1,460.960 for Russell 2000, 3,766.658 for S&P 500, 75% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6429%
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| Cusip: | 61776LXM4
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