Published on 2/27/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.91 million 9.65% callable contingent income securities on indexes, ETF
New York, Feb. 27 – Morgan Stanley Finance LLC priced $4.91 million of callable contingent income securities due Aug. 26, 2025 linked to Dow Jones industrial average, Financial 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 9.65%, paid quarterly, if each underlier closes at or above its 70% downside threshold on the related quarterly observation date, plus any previously unpaid coupons.
The securities may be called starting Aug. 24, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 70% 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: | Dow Jones industrial average, Financial Select Sector SPDR Fund and Euro Stoxx 50 index
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| Amount: | $4,912,000
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| Maturity: | Aug. 26, 2025
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| Coupon: | 9.65%, paid quarterly, if each underlier closes at or above its 70% downside threshold on the related quarterly observation date, plus any previously unpaid coupons
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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 Aug. 24, 2023 at par on any quarterly call date
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| Initial levels: | 33,129.59 for Dow Jones industrial average, 4,250.40 for Euro Stoxx 50, $35.64 for Financial Select Sector SPDR Fund
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| Downside thresholds: | 23,190.713 for Dow Jones industrial average, 2,975.28 for Euro Stoxx 50, $24.948 for Financial Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Feb. 21
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| Settlement date: | Feb. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61774TM90
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