Published on 5/18/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.63 million callable contingent income securities on indexes
New York, May 18 – Morgan Stanley Finance LLC priced $1.63 million of callable contingent income securities due May 20, 2024 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing index finishes below its 55% 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: | $1.63 million
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| Maturity: | May 20, 2024
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| Coupon: | 10.25%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
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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
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| Initial levels: | 13,340.18 for Nasdaq-100, 1,740.849 for Russell 2000, 4,124.08 for S&P 500
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| Downside threshold: | 7,337.099 for Nasdaq-100, 957.467 for Russell 2000, 2,268.244 for S&P 500, 55% of initial levels
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| Coupon barriers: | 9,338.126 for Nasdaq-100, 1,218.594 for Russell 2000, 2,886.856 for S&P 500, 70% of initial levels
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| Strike date: | May 12
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| Pricing date: | May 15
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| Settlement date: | May 18
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.2%
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| Cusip: | 61774X2P7
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