Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.98 million callable contingent income securities on indexes, ETF
New York, April 23 – Morgan Stanley Finance LLC priced $3.98 million of callable contingent income securities due April 22, 2027 linked to the Russell 2000 index, the Real Estate Select Sector SPDR Fund and the Nasdaq-100 Technology Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.25%, paid monthly, if each underlier closes at or above its 70% downside threshold on the related monthly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing asset finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Russell 2000 index, Real Estate Select Sector SPDR Fund and Nasdaq-100 Technology Sector index
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Amount: | $3,981,000
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Maturity: | April 22, 2027
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Coupon: | 12.25%, paid monthly, if each underlier closes at or above its 70% downside threshold on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing asset
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Call option: | At par on any quarterly call date
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Initial levels: | 9,816.78 for Nasdaq-100 Technology Sector, 1,947.947 for Russell 2000, $35.73 for Real Estate Select Sector SPDR Fund
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Downside thresholds: | 6,871.746 for Nasdaq-100 Technology Sector, 1,363.563 for Russell 2000, $25.011 for Real Estate Select Sector SPDR Fund, 70% 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: | 0.7%
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Cusip: | 61776LUT2
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