Published on 9/12/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $314,000 contingent coupon notes on Nasdaq, S&P
By Kiku Steinfeld
Chicago, Sept. 12 – Morgan Stanley Finance LLC priced $314,000 of contingent coupon notes due March 3, 2025 linked to the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if each index closes at or above its coupon barrier level, 100% of its initial level, on the observation date for that quarter.
The payout at maturity will be par plus the final contingent coupon, if any.
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: | Contingent coupon notes
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| Underlying indexes: | Nasdaq-100 index and S&P 500 index
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| Amount: | $314,000
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| Maturity: | March 3, 2025
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| Coupon: | 6% annualized, payable quarterly if each index closes at or above its coupon barrier level on observation date for quarter
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| Price: | Par
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| Payout at maturity: | Par plus final contingent coupon, if any
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| Initial levels: | 11,969.65 for Nasdaq, 3,970.04 for S&P
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| Coupon barriers: | 11,969.65 for Nasdaq, 3,970.04 for S&P, 100% of initial level
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| Pricing date: | Feb. 24, 2023
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| Settlement date: | March 1, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 61774TQ21
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