New York, Nov. 4 – Morgan Stanley Finance LLC priced $3.9 million of callable contingent income securities due Oct. 31, 2024 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 10.8%, paid quarterly, if the underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called starting Nov. 2, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the underlying index closes below its 70% downside threshold in which case investors will be fully exposed to the decline of the 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 index: | S&P 500 index
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| Amount: | $3.9 million
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| Maturity: | Oct. 31, 2024
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| Coupon: | 10.8%, paid quarterly, if the 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 index closes below its downside threshold level in which case investors will be fully exposed to the decline in the underlying index
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| Call: | Starting Nov. 2, 2023 at par on any quarterly call date
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| Initial level: | 3,901.06
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| Downside threshold: | 2,730.742, 70% of initial level
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| Pricing date: | Oct. 28
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| Settlement date: | Nov. 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61774HZS0
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