Published on 2/5/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $440,000 10.5% callable contingent income buffered notes on indexes
Chicago, Feb. 5 – Morgan Stanley Finance LLC priced $440,000 of callable contingent income buffered securities due May 15, 2025 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities may be called starting Nov. 16, 2023 at par on any quarterly call date.
At maturity the payout will be par if the worst performing index gains or declines by no more than its 20% buffer. Otherwise, investors will receive par less the decline of the worst performing index beyond the buffer.
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 buffered securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $440,000
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| Maturity: | May 15, 2025
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| Coupon: | 10.5% annual rate, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | Par if worst performing index gains or declines by no more than its buffer; otherwise par less loss of worst performing index beyond buffer
|
| Call: | Starting Nov. 16, 2023 at par on any quarterly call date
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| Initial levels: | 33,300.62 for Dow, 13,340.18 for Nasdaq, 1,740.849 for Russell
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| Coupon barriers: | 26,640.496 for Dow, 10,672.144 for Nasdaq, 1,392.679 for Russell, 80% of initial levels
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| Buffer levels: | 26,640.496 for Dow, 10,672.144 for Nasdaq, 1,392.679 for Russell, 80% of initial levels
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| Buffer: | 20%
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| Downside leverage: | 100%
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| Pricing date: | May 12, 2023
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| Settlement date: | May 17, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61774XD34
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