Published on 9/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 callable contingent income securities on three indexes
New York, Sept. 26 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income securities due Sept. 25, 2025 linked to the Russell 2000 index, the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.55%, paid quarterly, if each underlying index closes at or above its 65% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting March 25, 2024.
At maturity, the payout will be par unless the worst performing index finishes 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: | Russell 2000 index, Euro Stoxx 50 index and S&P 500 index
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Amount: | $250,000
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Maturity: | Sept. 25, 2025
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Coupon: | 8.55%, paid quarterly, if each underlying index closes at or above its 65% 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 finishes 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 option: | At par on any quarterly call date starting March 25, 2024
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Initial levels: | 1,810.102 for Russell 2000, 4,402.20 for S&P 500, 4,275.98 for Euro Stoxx 50
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Downside threshold: | 1,176.566 for Russell 2000, 2,861.43 for S&P 500, 2,779.387 for Euro Stoxx 50, 65% of initial levels
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Pricing date: | Sept. 20
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Settlement date: | Sept. 25
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.75%
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Cusip: | 61775H5C7
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