Published on 1/2/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $13.16 million 9% callable contingent income securities on indexes
New York, Jan. 2 – Morgan Stanley Finance LLC priced $13.16 million of callable contingent income securities due Jan. 2, 2026 linked to S&P 500 index, Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlying index closes at or above its 70% downside threshold every day that period
The securities may be called starting April 3, 2024 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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $13,164,000
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Maturity: | Jan. 2, 2026
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Coupon: | 9%, paid quarterly, if each underlying index closes at or above its 70% downside threshold every day that period
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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 April 3, 2024 at par on any quarterly call date
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Initial levels: | 2,066.214 for Russell 2000, 4,781.58 for S&P 500, 4,528.38 for Euro Stoxx 50
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Downside threshold: | 1,446.350 for Russell 2000, 3,347.106 for S&P 500, 3,169.866 for Euro Stoxx 50, 70% of initial levels
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Pricing date: | Dec. 27
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Settlement date: | Jan. 2
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2% including a structuring fee of 0.5%
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Cusip: | 61771WEL8
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