Published on 8/22/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.45 million 13.45% callable contingent income securities on indexes, fund
New York, Aug. 22 – Morgan Stanley Finance LLC priced $2.45 million of callable contingent income securities due Feb. 21, 2025 linked to Russell 2000 index, Technology Select Sector SPDR Fund and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.45%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called starting Nov. 20 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 70% 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying assets: | Russell 2000 index, Technology Select Sector SPDR Fund and Nasdaq-100 index
|
| Amount: | $2,449,000
|
| Maturity: | Feb. 21, 2025
|
| Coupon: | 13.45%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| 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
|
| Call: | Starting Nov. 20 at par on any quarterly call date
|
| Initial levels: | 15,037.65 for Nasdaq-100, 1,895.755 for Russell 2000, $167.89 for Technology Select Sector SPDR Fund
|
| Downside thresholds: | 10,526.355 for Nasdaq-100, 1,327.029 for Russell 2000, $117.523 for Technology Select Sector SPDR Fund, 70% of initial levels
|
| Coupon barriers: | 11,278.238 for Nasdaq-100 index, 1,421.816 for Russell 2000 index, $125.918 for Technology Select Sector SPDR Fund, 75% of initial levels
|
| Pricing date: | Aug. 15
|
| Settlement date: | Aug. 18
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.65%
|
| Cusip: | 61775HA31
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
