Published on 10/30/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.01 million 12.05% callable contingent notes on indexes
New York, Oct. 30 – Morgan Stanley Finance LLC priced $1.01 million of callable contingent income securities due Oct. 29, 2025 linked to S&P 500 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.05%, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly observation date.
The securities may be called starting April 29, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 80% downside threshold in which case investors will be fully exposed to the decline of that index.
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 indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $1.01 million
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Maturity: | Oct. 29, 2025
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Coupon: | 12.05%, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying index
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Call: | Starting April 29, 2024 at par on any quarterly call date
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Initial levels: | 33,141.38 for Dow Jones industrial average, 1,679.502 for Russell 2000, 4,247.68 for S&P 500
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Downside threshold: | 26,513.104 for Dow Jones industrial average, 1,343.602 for Russell 2000, 3,398.144 for S&P 500, 80% of initial levels
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Pricing date: | Oct. 24
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Settlement date: | Oct. 27
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.75%
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Cusip: | 61775MNM4
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