Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $335,000 10.9% callable contingent income notes on indexes, fund
Chicago, Feb. 15 – Morgan Stanley Finance LLC priced $335,000 of callable contingent income securities due Jan. 7, 2027 linked to the worst performing of the Russell 2000 index, Utilities Select Sector SPDR Fund and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.9%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting July 8, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 65% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Russell 2000 index, Utilities Select Sector SPDR Fund and Euro Stoxx 50 index
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| Amount: | $335,000
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| Maturity: | Jan. 7, 2027
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| Coupon: | 10.9% annual rate, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
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| Call: | Starting July 8, 2024 at par on any quarterly call date
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| Initial levels: | 2,012.795 for Russell, 4,512.81 for Stoxx, $64.25 for fund
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| Coupon barriers: | 1,408.957 for Russell, 3,158.967 for Stoxx, $44.975 for fund, 70% of initial levels
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| Downside thresholds: | 1,308.317 for Russell, 2,933.327 for Stoxx, $41.763 for fund, 65% of initial levels
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| Pricing date: | Jan. 2
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| Settlement date: | Jan. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61771WHW1
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