Published on 10/2/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $25 million 9.1% callable contingent income securities on indexes
New York, Oct. 2 – Morgan Stanley Finance LLC priced $25 million of callable contingent income securities due Oct. 8, 2024 linked to Technology Select Sector index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.1%, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly observation date.
The securities may be called starting April 5, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 80% 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: | Technology Select Sector index and Nasdaq-100 index
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| Amount: | $25 million
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| Maturity: | Oct. 8, 2024
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| Coupon: | 9.1%, paid quarterly, if each underlying index closes at or above its 80% downside threshold 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 April 5, 2024 at par on any quarterly call date
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| Initial levels: | 1,632.35 for Technology Select Sector, 14,545.83 for Nasdaq-100
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| Downside threshold: | 1,305.88 for Technology Select Sector, 11,636.664 for Nasdaq-100, 80% of initial levels
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61775MAZ9
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