Published on 1/24/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $15.15 million callable contingent income securities on indexes, ETF
New York, Jan. 24 – Morgan Stanley Finance LLC priced $15.15 million of callable contingent income securities due July 24, 2028 linked to the Russell 2000 index, the iShares MSCI EAFE ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.1%, paid quarterly, if each underlier closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting July 24, 2024.
At maturity, the payout will be par unless the worst performing asset finishes below its 60% 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, iShares MSCI EAFE ETF and S&P 500 index
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| Amount: | $15,154,000
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| Maturity: | July 24, 2028
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| Coupon: | 10.1%, paid quarterly, if each underlier closes at or above its 80% coupon barrier on the related quarterly 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 underlying asset
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| Call option: | At par on any quarterly call date starting July 24, 2024
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| Initial levels: | $73.93 for iShares MSCI EAFE ETF, 1,944.391 for Russell 2000, 4,839.81 for S&P 500
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| Downside thresholds: | $44.358 for iShares MSCI EAFE ETF, 1,166.635 for Russell 2000, 2,903.886 for S&P 500, 60% of initial levels
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| Coupon barriers: | $59.144 for iShares MSCI EAFE ETF, 1,555.513 for Russell 2000, 3,871.848 for S&P 500, 80% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61771WQJ0
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