Published on 3/20/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.65 million 8.8% callable contingent income notes on indexes
New York, March 20 – Morgan Stanley Finance LLC priced $1.65 million of callable contingent income securities due March 19, 2025 linked to S&P 500 index, Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.8%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called starting June 20 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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $1.65 million
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| Maturity: | March 19, 2025
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| Coupon: | 8.8%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date
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| 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
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| Call: | Starting June 20 at par on any quarterly call date
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| Initial levels: | 1,776.893 for Russell 2000, 3,919.29 for S&P 500, 4,179.47 for Euro Stoxx 50
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| Downside threshold: | 1,066.136 for Russell 2000, 2,351.574 for S&P 500, 2,507.682 for Euro Stoxx 50, 60% of initial levels
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| Pricing date: | March 14
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| Settlement date: | March 17
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2% including a structuring fee of 0.5%
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| Cusip: | 61774T8F2
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