Published on 6/29/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 callable contingent income notes on indexes
Chicago, June 29 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income securities due June 5, 2028 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called at par starting Dec. 5, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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, Russell 2000 index and Dow Jones industrial average
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| Amount: | $250,000
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| Maturity: | June 5, 2028
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| Coupon: | 9.75% annual rate, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date
|
| 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
|
| Call: | Starting Dec. 5, 2023 at par on any quarterly call date
|
| Initial levels: | 32,908.27 for Dow, 14,254.09 for Nasdaq, 1,749.650 for Russell
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| Downside thresholds: | 23,035.789 for Dow, 9,977.863 for Nasdaq, 1,224.755 for Russell, 70% of initial levels
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| Coupon barriers: | 24,681.203 for Dow, 10,690.568 for Nasdaq index, 1,312.238 for Russell, 75% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61774XTY9
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