Published on 8/2/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.13 million callable contingent notes on indexes
Chicago, Aug. 2 – Morgan Stanley Finance LLC priced $1.13 million of market-linked securities that are callable with contingent coupon and contingent downside – due Oct. 30, 2024 linked to the lowest performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.05%, paid monthly, if each underlying index closes at or above its 75% downside threshold on the related monthly observation date.
The securities may be called at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 75% 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 and Wells Fargo Securities, LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Market-linked securities – callable with contingent coupon and contingent downside
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $1,125,000
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| Maturity: | Oct. 30, 2024
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| Coupon: | 10.05% annual rate, paid monthly, if each underlying index closes at or above its 75% downside threshold on the related 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: | At par on any quarterly call date
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| Initial levels: | 4,567.46 for S&P, 1,966.112 for Russell, 15,561.42 for Nasdaq
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| Downside thresholds: | 3,425.595 for S&P, 1,474.584 for Russell, 11,671.065 for Nasdaq, 75% of initial levels
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| Pricing date: | July 25
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| Settlement date: | July 28
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| Agents: | Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC
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| Fees: | 1.075%
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| Cusip: | 61775HMZ7
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