Published on 8/15/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.5 million callable contingent income securities on three indexes
New York, Aug. 15 – Morgan Stanley Finance LLC priced $1.5 million of callable contingent income securities due Feb. 5, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.8%, 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 at par on any quarterly call date starting Feb. 5, 2024.
If the notes have not been called, the payout at maturity will be par unless any index closes below its downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level.
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 Dow Jones industrial average
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| Amount: | $1.5 million
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| Maturity: | Feb. 5, 2025
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| Coupon: | 9.8%, 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 any index closes below its downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level
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| Call option: | At par on any quarterly call date starting Feb. 5, 2024
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| Initial levels: | 35,559.53 for Dow Jones industrial average, 15,757.00 for Nasdaq-100, 2,003.177 for Russell 2000
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| Downside threshold: | 21,335.718 for Dow Jones industrial average, 9,454.20 for Nasdaq-100, 1,201.906 for Russell 2000, 60% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61775HRP4
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