Published on 2/6/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $581,000 13.3% callable contingent income securities on indexes
Chicago, Feb. 6 – Morgan Stanley Finance LLC priced $581,000 of callable contingent income securities due Nov. 15, 2024 linked to the worst performing of the Nasdaq-100 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 13.3%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called starting Aug. 17, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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
|
Guarantor: | Morgan Stanley
|
Issue: | Callable contingent income securities
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
|
Amount: | $581,000
|
Maturity: | Nov. 15, 2024
|
Coupon: | 13.3% annual rate, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date
|
Price: | Par
|
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
|
Call: | Starting Aug. 17, 2023 at par on any quarterly call date
|
Initial levels: | 33,300.62 for Dow, 13,340.18 for Nasdaq, 1,740.849 for Russell
|
Coupon barriers: | 24,975.465 for Dow, 10,005.135 for Nasdaq, 1,305.637 for Russell, 75% of initial levels
|
Downside threshold: | 23,310.434 for Dow, 9,338.126 for Nasdaq, 1,218.594 for Russell, 70% of initial levels
|
Pricing date: | May 12, 2023
|
Settlement date: | May 17, 2023
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 0.65%
|
Cusip: | 61774XZV8
|
|
© 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.