Published on 3/22/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.29 million callable contingent income securities on indexes
New York, March 22 – Morgan Stanley Finance LLC priced $4.29 million of callable contingent income securities due March 20, 2025 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.85%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on every trading day during the related quarterly observation period.
The securities may be called at par on any quarterly call date starting Sept. 20, 2023.
At maturity, the payout will be par unless the worst performing index finishes 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
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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: | $4,287,000
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| Maturity: | March 20, 2025
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| Coupon: | 11.85%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on every business day during the observation period
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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 starting Sept. 20, 2023
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| Initial levels: | 1,745.945 for Russell 2000, 3,891.93 for S&P 500, 4,034.92 for Euro Stoxx 50
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| Downside threshold: | 1,222.162 for Russell 2000, 2,724.351 for S&P 500, 2,824.444 for Euro Stoxx 50, 70% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.9286% including a structuring fee of 0.4286%
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| Cusip: | 61774XAX1
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