Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 10.25% callable contingent income notes on indexes
By Kiku Steinfeld
Chicago, July 28 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income securities due May 24, 2024 linked to Russell 2000 index, Euro Stoxx 50 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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: | Russell 2000 index, Euro Stoxx 50 index and S&P 500
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Amount: | $250,000
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Maturity: | May 24, 2024
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Coupon: | 10.25%, paid quarterly, if each underlying index closes at or above its 70% 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: | At par on any quarterly call date
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Initial levels: | 1,888.215 for Russell, 3,997.34 for S&P, 4,250.40 for Euro Stoxx
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Downside thresholds: | 1,321.751 for Russell, 2,798.138 for S&P, 2,975.28 for Euro Stoxx, 70% of initial levels
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Pricing date: | Feb. 21, 2023
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Settlement date: | Feb. 24, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.25%
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Cusip: | 61774TK68
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