Published on 8/29/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.3 million 12.5% callable contingent income securities on indexes
New York, Aug. 29 – Morgan Stanley Finance LLC priced $1.3 million of callable contingent income securities due Aug. 27, 2025 linked to Dow Jones industrial average, Russell 2000 index and MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly observation date.
The securities may be called starting Feb. 26, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 80% 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 MSCI Emerging Markets index
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Amount: | $1.3 million
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Maturity: | Aug. 27, 2025
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Coupon: | 12.5%, paid quarterly, if each underlying index closes at or above its 80% downside threshold 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 Feb. 26, 2024 at par on any quarterly call date
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Initial levels: | 34,463.69 for Dow Jones industrial average, 959.79 for MSCI Emerging Markets, 1,856.014 for Russell 2000
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Downside threshold: | 27,570.952 for Dow Jones industrial average, 767.832 for MSCI Emerging Markets, 1,484.811 for Russell 2000, 80% of initial levels
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Pricing date: | Aug. 21
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Settlement date: | Aug. 24
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.75%
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Cusip: | 61775HYY7
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