Published on 3/11/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.98 million 8.1% contingent income securities on Russell, S&P
Chicago, March 11 – Morgan Stanley Finance LLC priced $3.98 million of contingent income securities due March 4, 2027 linked to the worst performing of the 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 8.1%, paid semiannually, if each underlying index closes at or above its 70% downside threshold on the related semiannual observation date.
If the worst performing index gains or ends above its downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its downside threshold level.
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: | Contingent income securities
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $3.98 million
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| Maturity: | March 4, 2027
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| Coupon: | 8.1% annual rate, paid semiannually, if each underlying index closes at or above its 70% downside threshold on the related semiannual observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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| Initial level: | 2,076.395 for Russell, 5,137.08 for S&P
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| Downside threshold: | 1,453.477 for Russell, 3,595.956 for S&P, 70% of initial levels
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| Pricing date: | March 1
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| Settlement date: | March 6
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61771WP51
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