Published on 8/4/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.02 million 8% callable contingent income securities on indexes
New York, Aug. 4 – Morgan Stanley Finance LLC priced $5.02 million of callable contingent income securities due Jan. 31, 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%, 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 starting Nov. 2 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 65% 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: | $5,015,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 8%, 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 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 Nov. 2 at par on any quarterly call date
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| Initial levels: | 35,459.29 for Dow Jones industrial average, 1,981.537 for Russell 2000, 4,582.23 for S&P 500
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| Downside threshold: | 23,048.539 for Dow Jones industrial average, 1,287.999 for Russell 2000, 2,978.450 for S&P 500, 65% of initial levels
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| Coupon barriers: | 24,821.503 for Dow Jones industrial average, 1,387.076 for Russell 2000 index, 3,207.561 for S&P 500 index, 70% of initial levels
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| Pricing date: | July 28
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| Settlement date: | Aug. 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 61775HSM0
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