Published on 1/12/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $400,000 9.45% callable contingent income buffered notes on indexes
New York, Jan. 12 – Morgan Stanley Finance LLC priced $400,000 of callable contingent income buffered securities due July 10, 2025 linked to S&P 500 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 9.45%, paid monthly, if each underlying index closes at or above its 85% coupon barrier on the related monthly observation date.
The securities may be called starting April 10 at par on any quarterly call date.
At maturity the payout will be par if the worst performing index gains or declines by no more than its 15% buffer. Otherwise investors will receive par less of the decline of the worst performing 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: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $400,000
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| Maturity: | July 10, 2025
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| Coupon: | 9.45%, paid monthly, if each underlying index closes at or above its 85% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if worst performing index gains or declines by no more than its buffer; otherwise par less of loss of worst performing index beyond buffer
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| Call: | Starting April 10 at par on any quarterly call date
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| Initial levels: | 37,466.11 for Dow Jones industrial average, 1,951.142 for Russell 2000, 4,697.24 for S&P 500
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| Coupon barriers: | 31,846.194 for Dow Jones industrial average, 1,658.471 for Russell 2000 index, 3,992.654 for S&P 500 index, 85% of initial levels
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| Buffer: | 15%
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| Buffer level: | 31,846.194 for Dow Jones industrial average, 1,658.471 for Russell 2000 index, 3,992.654 for S&P 500 index, 85% of initial level
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 10
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61771WKJ6
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