Published on 11/6/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 11% callable contingent income notes on indexes
Chicago, Nov. 6 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income securities due Oct. 23, 2025 linked to the worst performing of the Nasdaq-100 index, Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting April 21, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 60% 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: | Nasdaq-100 index, Dow Jones industrial average and S&P 500 index
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| Amount: | $250,000
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| Maturity: | Oct. 23, 2025
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| Coupon: | 11% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly 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 April 21, 2023 at par on any quarterly call date
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| Initial levels: | 30,523.80 for Dow, 11,147.74 for Nasdaq, 3,719.98 for S&P
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| Coupon barriers: | 21,366.66 for Dow, 7,803.418 for Nasdaq, 2,603.986 for S&P, 70% of initial levels
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| Downside threshold: | 18,314.28 for Dow, 6,688.644 for Nasdaq, 2,231.988 for S&P, 60% of initial levels
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| Pricing date: | Oct. 18, 2022
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| Settlement date: | Oct. 21, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61774HRV2
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