Published on 10/5/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.15 million 13.7% worst of fixed coupon RevCons on tech stocks
New York, Oct. 5 – Morgan Stanley Finance LLC priced $2.15 million of worst of fixed coupon RevCons due Oct. 2, 2026 linked to the common stocks of Apple Inc., Tesla, Inc. and Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.7%, paid quarterly.
If the worst performing stock finishes at or above the 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing stock declines from its initial 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: | Worst of fixed coupon RevCons
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| Underlying stocks: | Apple Inc., Tesla, Inc. and Amazon.com, Inc.
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| Amount: | $2,153,000
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| Maturity: | Oct. 2, 2026
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| Coupon: | 13.7%, paid quarterly
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
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| Initial levels: | $171.21 for Apple, $127.12 for Amazon.com, $250.22 for Tesla
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| Downside thresholds: | $102.726 for Apple, $76.272 for Amazon.com, $150.132 for Tesla, 60% of initial levels
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| Strike date: | Sept. 29
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| Pricing date: | Oct. 2
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| Settlement date: | Oct. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 61775MGM2
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