Published on 5/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.89 million 15.75% callable contingent income securities on indexes, fund
New York, May 26 – Morgan Stanley Finance LLC priced $1.89 million of callable contingent income securities due Nov. 22, 2024 linked to Russell 2000 index, Technology Select Sector SPDR Fund and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.75%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called starting Aug. 24 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
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| Underlying assets: | Russell 2000 index, Technology Select Sector SPDR Fund and Dow Jones industrial average
|
| Amount: | $1,893,000
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| Maturity: | Nov. 22, 2024
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| Coupon: | 15.75%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly 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 Aug. 24 at par on any quarterly call date
|
| Initial levels: | 33,426.63 for Dow, 1,773.717 for Russell, $157.48 for Technology
|
| Downside thresholds: | 23,398.641 for Dow, 1,241.602 for Russell, $110.236 for Technology, 70% of initial levels
|
| Coupon barriers: | 25,069.973 for Dow, 1,330.288 for Russell, $118.11 for Technology, 75% of initial levels
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| Pricing date: | May 19
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| Settlement date: | May 24
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61774X2F9
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