Published on 10/15/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $500,000 contingent income capped participation notes on indexes
By Kiku Steinfeld
Chicago, Oct. 16 – Morgan Stanley Finance LLC priced $500,000 of 0% contingent income capped participation securities due Oct. 2, 2024 linked to the 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 at the rate of 6.25% per year, paid monthly, if each index closes at or above its 70% threshold on the related observation date I
The payout at maturity will be par the gain of the least performing index, capped at par plus 10%.
Investors will receive par if the least performing index falls below 70% of its initial level. Otherwise, investors will lose 1% for every 1% decline of the least performing index.
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 capped participation securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $500,000
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| Maturity: | Oct. 2, 2024
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| Coupon: | 6.25% per year, paid monthly, if each index closes at or above its 70% threshold on the related observation date
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| Price: | Par
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| Payout at maturity: | If least performing index finishes above initial level, par plus gain, capped at par plus 10%; par if the least performing index falls below its threshold; otherwise, full exposure to decline of least performer
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| Initial levels: | 32,432.08 for Dow, 12,673.07 for Nasdaq, 1,753.673 for Russell
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| Threshold levels: | 22,702.456 for Dow, 8,871.149 for Nasdaq, 1,227.571 for Russell, 70% of initial levels
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| Pricing date: | March 27, 2023
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| Settlement date: | March 30, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61774XCE1
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