Published on 9/13/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $977,000 10.8% callable contingent income notes on indexes
Chicago, Sept. 13 – Morgan Stanley Finance LLC priced $977,000 of callable contingent income securities due Aug. 29, 2024 linked to the worst performing of the S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.8%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called starting March 2, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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
|
| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $977,000
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| Maturity: | Aug. 29, 2024
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| Coupon: | 10.8% annual rate, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date
|
| 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
|
| Call: | Starting March 2, 2023 at par on any quarterly call date
|
| Initial levels: | 12,605.17 for Nasdaq, 1,899.830 for Russell, 4,057.66 for S&P
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| Downside threshold: | 8,823.619 for Nasdaq, 1,329.881 for Russell, 2,840.362 for S&P, 70% of initial levels
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| Pricing date: | Aug. 26, 2022
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| Settlement date: | Aug. 31, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61774D3A3
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