Published on 10/3/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $695,000 9.75% contingent income securities on indexes
Chicago, Oct. 3 – Morgan Stanley Finance LLC priced $695,000 of contingent income securities due Oct. 2, 2025 linked to the worst performing of the Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
If the worst performing index gains or ends above its 70% downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Contingent income securities
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Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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Amount: | $695,000
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Maturity: | Oct. 2, 2025
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Coupon: | 9.75% annual rate, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Initial levels: | 29,134.99 for Dow, 11,271.75 for Nasdaq, 1,662.509 for Russell
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Downside thresholds: | 20,394.493 for Dow, 7,890.225 for Nasdaq, 1,163.756 for Russell, 70% of initial levels
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Pricing date: | Sept. 27, 2022
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Settlement date: | Sept. 30, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.88%
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Cusip: | 61774D7J0
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