Published on 7/18/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.39 million 14.1% callable contingent income securities on indexes, ETF
New York, July 18 – Morgan Stanley Finance LLC priced $3.39 million of callable contingent income securities due April 17, 2025 linked to Russell 2000 index, SPDR S&P Regional Banking ETF and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.1%, paid monthly, if each underlier closes at or above its 60% downside threshold on the related monthly observation date.
The securities may be called starting Jan. 18, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes 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, SPDR S&P Regional Banking ETF and Nasdaq-100 index
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Amount: | $3,385,000
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Maturity: | April 17, 2025
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Coupon: | 14.1%, paid monthly, if each underlier closes at or above its 60% 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 closes 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: | Starting Jan. 18, 2024 at par on any quarterly call date
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Initial levels: | $43.21 for SPDR S&P Regional Banking ETF, 15,307.23 for Nasdaq-100, 1,933.376 for Russell 2000
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Downside thresholds: | $25.926 for SPDR S&P Regional Banking ETF, 9,184.338 for Nasdaq-100, 1,160.026 for Russell 2000, 60% of initial levels
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Pricing date: | July 12
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Settlement date: | July 17
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.65%
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Cusip: | 61775HHF7
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