Published on 3/25/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.53 million callable contingent income securities on indexes, ETF
New York, March 25 – Morgan Stanley Finance LLC priced $1.53 million of callable contingent income securities due June 24, 2025 linked to the Russell 2000 index, the SPDR S&P Regional Banking ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlier closes at or above its 70% coupon barrier 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 65% 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, SPDR S&P Regional Banking ETF and S&P 500 index
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| Amount: | $1,525,000
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| Maturity: | June 24, 2025
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| Coupon: | 10%, paid monthly, if each underlier closes at or above its 70% coupon barrier 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: | $47.18 for SPDR S&P Regional Banking ETF, 2,024.735 for Russell 2000, 5,149.42 for S&P 500
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| Downside thresholds: | $30.667 for SPDR S&P Regional Banking ETF, 1,316.078 for Russell 2000, 3,347.123 for S&P 500, 65% of initial levels
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| Coupon barriers: | $33.026 for SPDR S&P Regional Banking ETF, 1,417.315 for Russell 2000, 3,604.594 for S&P 500, 70% of initial levels
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| Pricing date: | March 18
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| Settlement date: | March 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61776LAX5
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