Published on 1/30/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $508,000 20.25% callable contingent income securities on stocks
Chicago, Jan. 30 – Morgan Stanley Finance LLC priced $508,000 of callable contingent income securities due Jan. 14, 2027 linked to the worst performing of the common stocks of Amazon.com, Inc., Costco Wholesale Corp., Walmart Inc. and Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 20.25%, paid monthly, if each underlying stock closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting April 15 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing stock closes below its 60% 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: | Amazon.com, Inc., Costco Wholesale Corp., Walmart Inc. and Target Corp.
|
| Amount: | $508,000
|
| Maturity: | Jan. 14, 2027
|
| Coupon: | 20.25% annual rate, paid monthly, if each underlying stock closes at or above its 70% 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 April 15 at par on any quarterly call date
|
| Initial levels: | $153.73 for Amazon, $672.76 for Costco, $144.09 for Target, $161.29 for Walmart
|
| Coupon barriers: | $107.611 for Amazon, $470.932 for Costco, $100.863 for Target Corp., $112.903 for Walmart Inc., 70% of initial levels
|
| Downside thresholds: | $92.238 for Amazon, $403.656 for Costco, $86.454 for Target, $96.774 for Walmart, 60% of initial levels
|
| Pricing date: | Jan. 10
|
| Settlement date: | Jan. 16
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61771WLJ5
|
|
|
© 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.
