Published on 2/28/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $296,000 8.1% callable contingent income securities on indexes
Chicago, Feb. 28 – Morgan Stanley Finance LLC priced $296,000 of callable contingent income securities due April 22, 2026 linked to the worst performing of the Nasdaq-100 Technology Sector 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 8.1%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting July 22, 2024 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 Technology Sector index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $296,000
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| Maturity: | April 22, 2026
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| Coupon: | 8.1% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier 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 July 22, 2024 at par on any quarterly call date
|
| Initial levels: | 37,266.67 for Dow, 9,485.02 for Nasdaq tech, 1,913.166 for Russell
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| Coupon barriers: | 26,086.669 for Dow, 6,639.514 for Nasdaq tech, 1,339.216 for Russell, 70% of initial levels
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| Downside threshold: | 22,360.002 for Dow, 5,691.012 for Nasdaq tech, 1,147.900 for Russell, 60% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61774FDK5
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