Published on 4/12/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $9.34 million 14% callable contingent income securities on index, ETFs
New York, April 12 – Morgan Stanley Finance LLC priced $9.34 million of callable contingent income securities due April 8, 2027 linked to VanEck Gold Miners ETF, SPDR S&P Regional Banking ETF and MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14%, paid quarterly, if each underlier closes at or above its 60% coupon barrier on the related quarterly observation date.
The securities may be called starting Oct. 10, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 58% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying assets: | VanEck Gold Miners ETF, SPDR S&P Regional Banking ETF and MSCI Emerging Markets index
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| Amount: | $9.34 million
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| Maturity: | April 8, 2027
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| Coupon: | 14%, paid quarterly, if each underlier closes at or above its 60% coupon barrier on the related quarterly observation date
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| Price: | Par
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| 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 asset
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| Call: | Starting Oct. 10, 2024 at par on any quarterly call date
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| Initial levels: | $33.84 for VanEck Gold Miners ETF, $48.21 for SPDR S&P Regional Banking ETF, 1,045.71 for MSCI Emerging Markets
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| Downside thresholds: | $19.627 for VanEck Gold Miners ETF, $27.962 for SPDR S&P Regional Banking ETF, 606.512 for MSCI Emerging Markets, 58% of initial levels
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| Coupon barriers: | $20.304 for VanEck Gold Miners ETF, $28.926 for SPDR S&P Regional Banking ETF, 627.426 for MSCI Emerging Markets index, 60% of initial levels
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| Pricing date: | April 5
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| Settlement date: | April 10
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61776LQG5
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