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Published on 4/19/2024 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $895,000 callable contingent income buffered notes on fund, indexes

Chicago, April 19 – Morgan Stanley Finance LLC priced $895,000 of callable contingent income buffered securities due Oct. 23, 2025 linked to the worst performing of the Utilities Select Sector SPDR Fund, Russell 2000 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 monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date.

The securities may be called starting July 24, 2024 at par on any quarterly call date.

At maturity the payout will be par if the worst performing asset gains or declines by no more than its 20% buffer. Otherwise, investors will receive par less the decline of the worst performing asset beyond the buffer.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:Morgan Stanley Finance LLC
Guarantor:Morgan Stanley
Issue:Callable contingent income buffered securities
Underlying assets:Utilities Select Sector SPDR Fund, Russell 2000 index and Nasdaq-100 index
Amount:$895,000
Maturity:Oct. 23, 2025
Coupon:9.1% annual rate, paid monthly, if each underlier closes at or above its 80% coupon barrier on the related monthly observation date
Price:Par
Payout at maturity:Par if worst performing asset gains or declines by no more than its buffer; otherwise par less loss of worst performing asset beyond buffer
Call:Starting July 24, 2024 at par on any quarterly call date
Initial levels:17,314.00 for Nasdaq, 1,944.391 for Russell, $60.98 for utilities fund
Coupon barriers:13,851.20 for Nasdaq, 1,555.513 for Russell, $48.784 for utilities fund, 80% of initial levels
Buffer level:13,851.20 for Nasdaq, 1,555.513 for Russell, $48.784 for utilities fund, 80% of initial levels
Buffer:20%
Downside leverage:100%
Pricing date:Jan. 19
Settlement date:Jan. 24
Agent:Morgan Stanley & Co. LLC
Fees:0.75%
Cusip:61771WNZ7

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