Published on 2/6/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $962,000 14.5% callable contingent income securities on indexes
Chicago, Feb. 6 – Morgan Stanley Finance LLC priced $962,000 of callable contingent income securities due Feb. 18, 2025 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 14.5%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities may be called starting Aug. 17, 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: | $962,000
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| Maturity: | Feb. 18, 2025
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| Coupon: | 14.5% annual rate, paid monthly, if each underlying index closes at or above its 80% 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 Aug. 17, 2023 at par on any quarterly call date
|
| Initial levels: | 33,300.62 for Dow, 13,340.18 for Nasdaq, 1,740.849 for Russell
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| Coupon barriers: | 26,640.496 for Dow, 10,672.144 for Nasdaq, 1,392.679 for Russell, 80% of initial levels
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| Downside threshold: | 23,310.434 for Dow, 9,338.126 for Nasdaq, 1,218.594 for Russell, 70% of initial levels
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| Pricing date: | May 12, 2023
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| Settlement date: | May 17, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774XK77
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