Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $787,000 callable contingent income securities on indexes, fund
Chicago, July 28 – Morgan Stanley Finance LLC priced $787,000 of callable contingent income securities due July 24, 2025 linked to the worst performing of the Russell 2000 index, Technology Select Sector SPDR Fund and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.25%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called starting Jan. 25, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 70% 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
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| Underlying assets: | Russell 2000 index, Technology Select Sector SPDR Fund and Dow Jones industrial average
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| Amount: | $787,000
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| Maturity: | July 24, 2025
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| Coupon: | 11.25% annual rate, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| 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
|
| Call: | Starting Jan. 25, 2024 at par on any quarterly call date
|
| Initial levels: | 35,227.69 for Dow, 1,960.255 for Russell, $176.13 for Technology Fund
|
| Downside thresholds: | 24,659.383 for Dow, 1,372.179 for Russell, $123.291 for Technology Fund, 70% of initial levels
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| Coupon barriers: | 26,420.768 for Dow, 1,470.191 for Russell, $132.098 for Technology Fund, 75% of initial levels
|
| Pricing date: | July 21
|
| Settlement date: | July 26
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
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| Cusip: | 61775HLA3
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