Published on 10/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.42 million 9.8% callable contingent income notes on indexes
By Kiku Steinfeld
Chicago, Oct. 30 – Morgan Stanley Finance LLC priced $1.42 million of callable contingent income securities due April 3, 2025 linked to 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 9.8%, paid monthly, if each underlying index closes at or above its 60% downside threshold on the related monthly observation date.
The securities may be called starting July 6, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 60% 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: | $1,415,000
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Maturity: | April 3, 2025
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Coupon: | 9.8%, paid monthly, if each underlying index closes at or above its 60% downside threshold on the related monthly 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 July 6, 2023 at par on any quarterly call date
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Initial levels: | 33,274.15 for Dow, 13,181.35 for Nasdaq, 1,802.484 for Russell
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Downside thresholds: | 19,964.49 for Dow, 7,908.81 for Nasdaq, 1,081.490 for Russell, 60% of initial levels
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Pricing date: | March 31, 2023
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Settlement date: | April 5, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.65%
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Cusip: | 61774XGD9
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