Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.4 million 9.25% callable contingent income securities on index, fund
New York, Oct. 16 – Morgan Stanley Finance LLC priced $2.4 million of callable contingent income securities due Jan. 15, 2026 linked to S&P 500 index and Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.25%, paid monthly, if each underlier closes at or above its 65% downside threshold on the related monthly observation date.
The securities may be called starting Oct. 16, 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: | S&P 500 index and Financial Select Sector SPDR Fund
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| Amount: | $2,402,000
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| Maturity: | Jan. 15, 2026
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| Coupon: | 9.25%, paid monthly, if each underlier closes at or above its 65% 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 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 Oct. 16, 2024 at par on any quarterly call date
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| Initial levels: | 4,358.24 for S&P 500, $33.30 for Financial Select
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| Downside thresholds: | 2,832.856 for S&P 500, $21.645 for Financial Select, 65% of initial levels
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| Pricing date: | Oct. 10
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| Settlement date: | Oct. 13
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61775H7F8
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