Published on 3/7/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.62 million callable contingent income securities on indexes
New York, March 7 – Morgan Stanley Finance LLC priced $1.62 million of callable contingent income securities due Feb. 26, 2026 linked to the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly 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 finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of the worst performing 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: | Russell 2000 index, Euro Stoxx 50 index and S&P 500 index
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Amount: | $1,623,000
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Maturity: | Feb. 26, 2026
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Coupon: | 10.5%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing index
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Call option: | At par on any quarterly call date
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Initial levels: | 2,013.838 for Russell 2000, 5,087.03 for S&P 500, 4,855.36 for Euro Stoxx 50
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Downside thresholds: | 1,409.687 for Russell 2000, 3,560.921 for S&P 500, 3,398.752 for Euro Stoxx 50, 70% of initial levels
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Strike date: | Feb. 22
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.4%
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Cusip: | 61771WS66
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