Published on 11/6/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $556,000 14.5% callable contingent income notes on indexes, ETF
By Kiku Steinfeld
Chicago, Nov. 6 – Morgan Stanley Finance LLC priced $556,000 of callable contingent income securities due Oct. 10, 2024 linked to S&P 500 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 14.5%, paid monthly, if each underlier closes at or above its 60% coupon barrier on the related monthly observation date.
The securities may be called starting Oct. 11, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 50% 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
|
| Underlying assets: | S&P 500 index, SPDR S&P Regional Banking ETF and Nasdaq-100 index
|
| Amount: | $556,000
|
| Maturity: | Oct. 10, 2024
|
| Coupon: | 14.5%, paid monthly, if each underlier closes at or above its 60% coupon barrier on the related monthly 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 Oct. 11, 2023 at par on any quarterly call date
|
| Initial levels: | $42.01 for SPDR S&P Regional Banking ETF, 12,967.20 for Nasdaq, 4,090.38 for S&P
|
| Downside thresholds: | $21.005 for SPDR S&P Regional Banking ETF, 6,483.60 for Nasdaq, 2,045.19 for S&P, 50% of initial levels
|
| Coupon barriers: | $25.206 for SPDR S&P Regional Banking ETF, 7,780.32 for Nasdaq index, 2,454.228 for S&P, 60% of initial levels
|
| Pricing date: | April 5, 2023
|
| Settlement date: | April 11, 2023
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.65%
|
| Cusip: | 61774XHF3
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
