Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $496,000 12.5% callable contingent income securities on indexes
Chicago, Oct. 16 – Morgan Stanley Finance LLC priced $496,000 of callable contingent income securities due July 6, 2026 linked to the worst performing of 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 of 12.5%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called starting April 4, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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, Russell 2000 index and Dow Jones industrial average
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| Amount: | $496,000
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| Maturity: | July 6, 2026
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| Coupon: | 12.5% 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: | 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 April 4, 2023 at par on any quarterly call date
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| Initial levels: | 28,725.51 for Dow, 10,971.22 for Nasdaq, 1,664.716 for Russell
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| Downside threshold: | 20,107.857 for Dow, 7,679.854 for Nasdaq, 1,165.301 for Russell, 70% of initial levels
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| Pricing date: | Sept. 30, 2022
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| Settlement date: | Oct. 5, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.564%
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| Cusip: | 61774FEY4
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