Published on 4/10/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 11.5% callable contingent income notes on indexes
By Kiku Steinfeld
Chicago, April 10 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income securities due June 21, 2024 linked to 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 11.5%, paid monthly, if each underlying index closes at or above its 70% downside threshold on the related monthly observation date.
The securities may be called starting March 21, 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
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Guarantor: | Morgan Stanley
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Issue: | Callable contingent income securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $250,000
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Maturity: | June 21, 2024
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Coupon: | 11.5%, paid monthly, if each underlying index closes at or above its 70% downside threshold on the related monthly 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 March 21, 2023 at par on any quarterly call date
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Initial levels: | 32,920.46 for Dow, 11,243.72 for Nasdaq, 1,763.420 for Russell
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Downside threshold: | 23,044.322 for Dow, 7,870.604 for Nasdaq, 1,234.394 for Russell, 70% of initial levels
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Pricing date: | Dec. 16
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Settlement date: | Dec. 21
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.6%
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Cusip: | 61774TBS0
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