Published on 11/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $783,000 10.45% callable contingent income buffered notes on indexes
By Kiku Steinfeld
Chicago, Nov. 27 – Morgan Stanley Finance LLC priced $783,000 of callable contingent income buffered securities due April 17, 2025 linked to 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 10.45%, paid monthly, if each underlying index closes at or above its 80% coupon barrier level on the related monthly observation date.
The securities may be called at par on any quarterly call date after six months.
At maturity the payout will be par unless the worst performing index closes below its 80% buffer level in which case investors will be fully exposed to the decline of that index beyond the buffer.
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 buffered securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $783,000
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| Maturity: | April 17, 2025
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| Coupon: | 10.45%, paid monthly, if each underlying index closes at or above its coupon barrier level on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its buffer level in which case investors will be fully exposed to the decline in the worst performing underlying index beyond its buffer
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| Call: | Starting on any quarterly call date after six months
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| Initial levels: | 33,646.50 for Dow, 12,848.35 for Nasdaq, 1,773.698 for Russell
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| Coupon barrier/buffer levels: | 26,917.20 for Dow, 10,278.68 for Nasdaq, 1,418.958 for Russell, 80% of initial levels
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| Pricing date: | April 12, 2023
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| Settlement date: | April 17, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774XNL3
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