Published on 2/3/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.46 million 8.75% contingent income securities on indexes
New York, Feb. 3 – Morgan Stanley Finance LLC priced $1.46 million of contingent income securities due Jan. 29, 2026 linked to the Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 8.75%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
If the worst performing index gains or ends above its downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Contingent income securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $1.46 million
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| Maturity: | Jan. 29, 2026
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| Coupon: | 8.75%, paid quarterly, if each 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: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Initial level: | 33,949.41 for Dow Jones industrial average, 12,051.48 for Nasdaq-100, 1,903.064 for Russell 2000
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| Downside threshold: | 23,764.587 for Dow Jones industrial average, 8,436.036 for Nasdaq-100, 1,332.145 for Russell 2000, 70% of initial level
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.1%
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| Cusip: | 61774TJP8
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