Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $619,000 8.5% callable contingent income notes on indexes
By Kiku Steinfeld
Chicago, July 14 – Morgan Stanley Finance LLC priced $619,000 of callable contingent income securities due Feb. 13, 2026 linked to Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting May 15, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 50% 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
|
| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $619,000
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| Maturity: | Feb. 13, 2026
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| Coupon: | 8.5%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying index
|
| Call: | Starting May 15, 2023 at par on any quarterly call date
|
| Initial levels: | 33,869.27 for Dow, 12,304.92 for Nasdaq, 1,918.814 for Russell
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| Downside thresholds: | 16,934.635 for Dow, 6,152.46 for Nasdaq, 959.407 for Russell, 50% of initial levels
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| Coupon barriers: | 23,708.489 for Dow, 8,613.444 for Nasdaq index, 1,343.170 for Russell, 70% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61774TYW6
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