Published on 9/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.62 million callable contingent income securities on indexes
New York, Sept. 28 – Morgan Stanley Finance LLC priced $4.62 million of callable contingent income securities due Sept. 25, 2025 linked to S&P 500 index, Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing index finishes 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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $4,623,000
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| Maturity: | Sept. 25, 2025
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| Coupon: | 8%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index finishes 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 option: | At par on any quarterly call date
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| Initial levels: | 1,776.503 for Russell 2000, 4,320.06 for S&P 500, 4,207.16 for Euro Stoxx 50
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| Downside threshold: | 1,065.902 for Russell 2000, 2,592.036 for S&P 500, 2,524.296 for Euro Stoxx 50, 60% of initial levels
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.8% including a structuring fee of 0.5%
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| Cusip: | 61775H6S1
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