Published on 3/20/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.21 million callable contingent income securities on Dow, S&P
New York, March 20 – Morgan Stanley Finance LLC priced $1.21 million of callable contingent income securities due March 19, 2025 linked to the Dow Jones industrial average 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 underlying index closes at or above its 75% 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 index finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of that 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: | Dow Jones industrial average and S&P 500 index
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| Amount: | $1,205,000
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| Maturity: | March 19, 2025
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| Coupon: | 10%, paid monthly, if each underlying index closes at or above its 75% 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 index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying index
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| Call option: | At par on any quarterly call date
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| Initial levels: | 32,155.40 for Dow Jones industrial average, 3,919.29 for S&P 500
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| Downside threshold: | 22,508.78 for Dow Jones industrial average, 2,743.503 for S&P 500, 70% of initial levels
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| Coupon barriers: | 24,116.55 for Dow Jones industrial average, 2,939.468 for S&P 500, 75% of initial levels
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| Pricing date: | March 14
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| Settlement date: | March 17
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61774T5X6
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