Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $500,000 callable contingent income buffered notes on fund, indexes
Chicago, Feb. 15 – Morgan Stanley Finance LLC priced $500,000 of callable contingent income buffered securities due Jan. 8, 2026 linked to the worst performing of the Utilities Select Sector SPDR Fund, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.7%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting April 8 at par on any quarterly call date.
At maturity the payout will be par if the worst performing asset gains or declines by no more than its 20% buffer. Otherwise investors will receive par less 125% of the decline of the worst performing asset beyond the buffer.
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 buffered securities
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| Underlying assets: | Utilities Select Sector SPDR Fund, Russell 2000 index and Nasdaq-100 index
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| Amount: | $500,000
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| Maturity: | Jan. 8, 2026
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| Coupon: | 9.7% annual rate, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if worst performing asset gains or declines by no more than its buffer; otherwise par less 125% of loss of worst performing asset beyond buffer
|
| Call: | Starting April 8 at par on any quarterly call date
|
| Initial levels: | 16,368.49 for Nasdaq, 1,959.200 for Russell, $64.49 for fund
|
| Coupon barriers: | 11,457.943 for Nasdaq, 1,371.44 for Russell, $45.143 for fund, 70% of initial levels
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| Buffer levels: | 13,094.792 for Nasdaq, 1,567.36 for Russell, $51.592 for fund, 80% of initial levels
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| Buffer: | 20%
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| Downside leverage: | 125%
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| Pricing date: | Jan. 3
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| Settlement date: | Jan. 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61771WDZ8
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