Published on 4/27/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.38 million 9.3% callable contingent income securities on indexes
New York, April 27 – Morgan Stanley Finance LLC priced $2.38 million of callable contingent income securities due April 29, 2025 linked to Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.3%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons.
The securities may be called starting July 27 at par on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes 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 S&P 500 index
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| Amount: | $2,379,000
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| Maturity: | April 29, 2025
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| Coupon: | 9.3%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly 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 closes 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: | Starting July 27 at par on any quarterly call determination date
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| Initial levels: | 12,969.76 for Nasdaq-100, 1,788.874 for Russell 2000, 4,137.04 for S&P 500
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| Downside threshold: | 7,781.856 for Nasdaq-100, 1,073.324 for Russell 2000, 2,482.224 for S&P 500, 60% of initial levels
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| Coupon barriers: | 9,727.32 for Nasdaq-100 index, 1,341.656 for Russell 2000 index, 3,102.78 for S&P 500 index, 75% of initial levels
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| Pricing date: | April 24
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| Settlement date: | April 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61774XSL8
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