Published on 11/2/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.95 million callable contingent income buffered notes on three indexes
Chicago, Nov. 2 – Morgan Stanley Finance LLC priced $1.95 million of callable contingent income buffered securities due Oct. 30, 2025 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at the rate of 10.25% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the corresponding observation date.
The notes may be called at par plus any coupon due on any quarterly observation date.
If each index finishes at or above its buffer level, 75% of its initial level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1.3333% for every 1% decline of the worst performer beyond the buffer.
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 buffered securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $1,947,000
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| Maturity: | Oct. 30, 2025
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| Coupon: | 10.25% per year, payable quarterly if each index closes at or above coupon barrier level on the observation date
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above buffer level; otherwise, investors will lose 1.3333% for every 1% decline of the worst performer beyond 25%
|
| Call option: | At par plus any coupon due on any quarterly observation date
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| Initial levels: | 32,417.59 for Dow, 1,636.938 for Russell, 4,117.37 for S&P
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| Coupon barrier levels: | 24,313.193 for Dow, 1,227.704 for Russell, 3,088.028 for S&P; 75% of initial levels
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| Buffer levels: | 24,313.193 for Dow, 1,227.704 for Russell, 3,088.028 for S&P; 75% of initial levels
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| Pricing date: | Oct. 27
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| Settlement date: | Nov. 1
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.06%
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| Cusip: | 61775MLF1
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