Published on 5/25/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $741,000 9% callable contingent income notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, May 25 – Morgan Stanley Finance LLC priced $741,000 of callable contingent income securities due July 18, 2024 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%, paid monthly, if each underlying index closes at or above its 60% downside threshold on the related monthly observation date.
The securities may be called starting July 18, 2023 at par on any quarterly call 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: | $741,000
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Maturity: | July 18, 2024
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Coupon: | 9%, paid monthly, if each underlying index closes at or above its 60% downside threshold on the related monthly observation date
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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 18, 2023 at par on any quarterly call date
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Initial levels: | 11,541.48 for Nasdaq, 1,887.034 for Russell, 3,999.09 for S&P
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Downside threshold levels: | 6,924.888 for Nasdaq, 1,132.220 for Russell, 2,399.454 for S&P, 60% of initial levels
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Pricing date: | Jan. 18, 2023
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Settlement date: | Jan. 23, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.25%
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Cusip: | 61774TQR6
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