Published on 1/12/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 11.3% callable contingent income securities on indexes, fund
New York, Jan. 12 – Morgan Stanley Finance LLC priced $500,000 of callable contingent income securities due Jan. 8, 2026 linked to MSCI Emerging Markets index, Technology Select Sector SPDR Fund and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.3%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on every day that period.
The securities may be called starting April 10 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 65% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | MSCI Emerging Markets index, Technology Select Sector SPDR Fund and Euro Stoxx 50 index
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| Amount: | $500,000
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| Maturity: | Jan. 8, 2026
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| Coupon: | 11.3%, paid quarterly, if each underlier closes at or above its 70% coupon barrier | every day that period
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
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| Call: | Starting April 10 at par on any quarterly call date
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| Initial levels: | 1,002.08 for MSCI Emerging Markets, 4,463.51 for Euro Stoxx 50, $184.12 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 651.352 for MSCI Emerging Markets, 2,901.282 for Euro Stoxx 50, $119.678 for Technology Select Sector SPDR Fund, 65% of initial levels
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| Coupon barriers: | 701.456 for MSCI Emerging Markets index, 3,124.457 for Euro Stoxx 50 index, $128.884 for Technology Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 10
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.2%
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| Cusip: | 61771WLM8
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