Published on 7/18/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.23 million 8.25% callable contingent income securities on indexes
New York, July 18 – Morgan Stanley Finance LLC priced $1.23 million of callable contingent income securities due April 17, 2025 linked to Dow Jones industrial average, 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 8.25%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting Oct. 17 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,225,000
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| Maturity: | April 17, 2025
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| Coupon: | 8.25%, paid monthly, if each underlying index closes at or above its 70% coupon barrier 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 Oct. 17 at par on any quarterly call date
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| Initial levels: | 34,347.43 for Dow Jones industrial average, 1,933.376 for Russell 2000, 4,472.16 for S&P 500
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| Downside threshold: | 20,608.458 for Dow Jones industrial average, 1,160.026 for Russell 2000, 2,683.296 for S&P 500, 60% of initial levels
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| Coupon barriers: | 24,043.201 for Dow Jones industrial average, 1,353.363 for Russell 2000 index, 3,130.512 for S&P 500 index, 70% of initial levels
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| Pricing date: | July 12
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| Settlement date: | July 17
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.375%
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| Cusip: | 61775HKD8
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