Published on 7/21/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.09 million 7.6% callable contingent income notes on indexes
Chicago, July 21 – Morgan Stanley Finance LLC priced $1.09 million of callable contingent income securities due July 16, 2026 linked to the worst performing of the Nasdaq-100 index, S&P 500 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.6%, paid semiannually, if each underlying index closes at or above its 50% downside threshold on the related semiannual observation date.
The securities may be called starting Jan. 19, 2024 at par on any semiannual 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
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Guarantor: | Morgan Stanley
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Issue: | Callable contingent income securities
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Underlying indexes: | Nasdaq-100 index, S&P 500 index and Dow Jones industrial average
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Amount: | $1.09 million
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Maturity: | July 16, 2026
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Coupon: | 7.6% annual rate, paid semiannually, if each underlying index closes at or above its 50% downside threshold on the related semiannual observation date
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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
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Call: | Starting Jan. 19, 2024 at par on any semiannual date
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Initial levels: | 34,395.14 for Dow, 15,571.98 for Nasdaq, 4,510.04 for S&P
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Downside threshold: | 17,197.57 for Dow, 7,785.99 for Nasdaq, 2,255.02 for S&P, 50% of initial levels
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Pricing date: | July 13
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Settlement date: | July 18
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61775HJP3
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