Published on 10/4/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million 28.75% callable contingent income securities on Meta, Nvidia, Tesla
New York, Oct. 4 – Morgan Stanley Finance LLC priced $1 million of callable contingent income securities due Sept. 25, 2026 linked to common stocks of Meta Platforms, Inc., Nvidia Corp. and Tesla, Inc. common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 28.75%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date.
The securities may be called starting Dec. 28 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing stock closes below its 50% downside threshold in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | Meta Platforms, Inc., Nvidia Corp. and Tesla, Inc.
|
| Amount: | $1 million
|
| Maturity: | Sept. 25, 2026
|
| Coupon: | 28.75%, paid monthly, if each underlying stock closes at or above its 60% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying stock
|
| Call: | Starting Dec. 28 at par on any quarterly call date
|
| Initial levels: | $299.08 for Meta Platforms, $416.10 for Nvidia, $244.88 for Tesla
|
| Downside thresholds: | $149.54 for Meta Platforms, $208.05 for Nvidia, $122.44 for Tesla, 50% of initial levels
|
| Coupon barriers: | $179.448 for Meta Platforms, Inc. class A, $249.66 for Nvidia Corp., $146.928 for Tesla, Inc., 60% of initial levels
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61775MBK1
|
|
|
© 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.
