Published on 5/15/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.02 million callable contingent income securities on indexes
New York, May 15 – Morgan Stanley Finance LLC priced $1.02 million of callable contingent income securities due May 15, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.05%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities may be called at par on any quarterly call determination date starting Nov. 15, 2023.
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: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,018,000
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| Maturity: | May 15, 2025
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| Coupon: | 10.05%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly 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 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 determination date starting Nov. 15, 2023
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| Initial levels: | 33,531.33 for Dow Jones industrial average, 13,347.83 for Nasdaq-100, 1,759.512 for Russell 2000
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| Downside threshold: | 20,118.798 for Dow Jones industrial average, 8,008.698 for Nasdaq-100, 1,055.707 for Russell 2000, 60% of initial levels
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| Coupon barriers: | 23,471.931 for Dow Jones industrial average, 9,343.481 for Nasdaq-100, 1,231.658 for Russell 2000, 70% of initial levels
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| Pricing date: | May 10
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| Settlement date: | May 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61774XG31
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