Published on 5/30/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $10.19 million 15% callable contingent income notes on indexes, ETF
New York, May 30 – Morgan Stanley Finance LLC priced $10.19 million of callable contingent income securities due May 28, 2026 linked to Russell 2000 index, SPDR S&P Regional Banking ETF and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid quarterly, if each underlier closes at or above its 55% downside threshold on the related quarterly observation date.
The securities may be called starting Nov. 28, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 55% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
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| Underlying assets: | Russell 2000 index, SPDR S&P Regional Banking ETF and Nasdaq-100 index
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| Amount: | $10,194,000
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| Maturity: | May 28, 2026
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| Coupon: | 15%, paid quarterly, if each underlier closes at or above its 55% downside threshold on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
|
| Call: | Starting Nov. 28, 2023 at par on any quarterly call date
|
| Initial levels: | $40.46 for SPDR S&P Regional Banking ETF, 13,849.74 for Nasdaq-100, 1,795.383 for Russell 2000
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| Downside thresholds: | $22.253 for SPDR S&P Regional Banking ETF, 7,617.357 for Nasdaq-100, 987.461 for Russell 2000, 55% of initial levels
|
| Pricing date: | May 22
|
| Settlement date: | May 25
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61774X3E1
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