Published on 11/2/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.1 million 11% callable contingent income securities on indexes
Chicago, Nov. 2 – Morgan Stanley Finance LLC priced $5.1 million of callable contingent income securities due Oct. 30, 2025 linked to the worst performing of the 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 11%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting Feb. 1, 2024 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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $5.1 million
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Maturity: | Oct. 30, 2025
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Coupon: | 11% annual rate, paid quarterly, if each underlying index closes at or above its 70% coupon barrier 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 Feb. 1, 2024 at par on any quarterly call date
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Initial levels: | 1,636.938 for Russell, 4,117.37 for S&P, 4,014.36 for Stoxx
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Coupon barrier levels: | 1,145.857 for Russell, 2,882.159 for S&P, 2,810.052 for Stoxx, 70% of initial levels
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Downside thresholds: | 1,145.857 for Russell, 2,882.159 for S&P, 2,810.052 for Stoxx, 70% of initial levels
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Pricing date: | Oct. 27
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Settlement date: | Nov. 1
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61775MRM0
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