Published on 10/18/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.81 million 15.3% callable contingent income notes on indexes
Chicago, Oct. 18 – Morgan Stanley Finance LLC priced $1.81 million of callable contingent income securities due April 16, 2025 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 15.3%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities may be called starting Jan. 17, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 80% 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
|
| Amount: | $1,812,000
|
| Maturity: | April 16, 2025
|
| Coupon: | 15.3% annual rate, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| 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
|
| Call: | Starting Jan. 17, 2024 at par on any quarterly call date
|
| Initial levels: | 33,804.87 for Dow, 15,241.12 for Nasdaq, 1,773.295 for Russell
|
| Coupon barrier levels: | 27,043.896 for Dow, 12,192.896 for Nasdaq, 1,418.636 for Russell, 80% of initial levels
|
| Downside threshold: | 27,043.896 for Dow, 12,192.896 for Nasdaq, 1,418.636 for Russell, 80% of initial levels
|
| Pricing date: | Oct. 11
|
| Settlement date: | Oct. 16
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.6%
|
| Cusip: | 61775MHN9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
