Published on 1/30/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.1 million callable contingent income securities on indexes
Chicago, Jan. 30 – Morgan Stanley Finance LLC priced $2.1 million of callable contingent income securities due July 15, 2026 linked to the worst performing of the Nasdaq-100 Technology Sector 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 10.25%, paid monthly, if each underlying index 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 index closes below its 60% 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 Technology Sector index, Russell 2000 index and Dow Jones industrial average
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Amount: | $2,101,000
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Maturity: | July 15, 2026
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Coupon: | 10.25% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier 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 April 15 at par on any quarterly call date
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Initial levels: | 37,695.73 for Dow, 9,488.72 for tech index, 1,970.261 for Russell
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Coupon barriers: | 26,387.011 for Dow, 6,642.104 for tech index, 1,379.183 for Russell, 70% of initial levels
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Downside threshold: | 22,617.438 for Dow, 5,693.232 for tech index, 1,182.157 for Russell, 60% of initial levels
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Pricing date: | Jan. 10
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Settlement date: | Jan. 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61771WMH8
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