Published on 2/11/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $899,000 6.75% callable contingent income securities on indexes
Chicago, Feb. 11 – Morgan Stanley Finance LLC priced $899,000 of callable contingent income securities due Nov. 29, 2024 linked to the worst performing of the Nasdaq-100 index, S&P 500 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 6.75%, paid monthly, if each underlying index closes at or above its 60% downside threshold on the related monthly observation date.
The securities may be called starting Nov. 29, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 60% 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, S&P 500 index and Dow Jones industrial average
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| Amount: | $899,000
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| Maturity: | Nov. 29, 2024
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| Coupon: | 6.75% annual rate, paid monthly, if each underlying index closes at or above its 60% downside threshold on the related monthly observation date
|
| 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
|
| Call: | Starting Nov. 29, 2023 at par on any quarterly call date
|
| Initial levels: | 32,799.92 for Dow, 13,604.48 for Nasdaq, 4,115.24 for S&P
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| Downside threshold levels: | 19,679.952 for Dow, 8,162.688 for Nasdaq, 2,469.144 for S&P, 60% of initial levels
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| Pricing date: | May 24, 2023
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| Settlement date: | May 30, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.15%
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| Cusip: | 61774XR88
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