Published on 10/11/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $9.25 million callable contingent income securities on three indexes
New York, Oct. 11 – Morgan Stanley Finance LLC priced $9.25 million of callable contingent income securities due Oct. 2, 2025 linked to Euro Stoxx 50 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.55%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on every trading day during the observation period.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing index finishes 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: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $9.25 million
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| Maturity: | Oct. 2, 2025
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| Coupon: | 11.55%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on every trading day during the observation period
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index finishes 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 option: | At par on any quarterly call date
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| Initial levels: | 1,785.102 for Russell 2000, 4,288.05 for S&P 500, 4,174.66 for Euro Stoxx 50
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| Downside threshold: | 1,249.571 for Russell 2000, 3,001.635 for S&P 500, 2,922.262 for Euro Stoxx 50, 70% of initial levels
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| Coupon barriers: | 1,338.827 for Russell 2000, 3,216.038 for S&P 500, 3,130.995 for Euro Stoxx 50, 75% of initial levels
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| Pricing date: | Sept. 29
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| Settlement date: | Oct. 4
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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: | 61775MEM4
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