Published on 2/28/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $843,000 8.6% callable contingent income notes on indexes
Chicago, Feb. 28 – Morgan Stanley Finance LLC priced $843,000 of callable contingent income securities due July 22, 2025 linked to the worst 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 8.6%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called starting July 22, 2024 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
|
| 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 S&P 500 index
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| Amount: | $843,000
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| Maturity: | July 22, 2025
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| Coupon: | 8.6% annual rate, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly 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 July 22, 2024 at par on any quarterly call date
|
| Initial levels: | 16,736.28 for Nasdaq, 1,913.166 for Russell, 4,739.21 for S&P
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| Coupon barriers: | 12,552.21 for Nasdaq, 1,434.875 for Russell, 3,554.408 for S&P, 75% of initial levels
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| Downside threshold: | 10,041.768 for Nasdaq, 1,147.900 for Russell, 2,843.526 for S&P, 60% of initial levels
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 22
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61771WKM9
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