Published on 9/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $850,000 12.35% callable contingent income notes on indexes
Chicago, Sept. 26 – Morgan Stanley Finance LLC priced $850,000 of callable contingent income securities due March 26, 2024 linked to the worst performing of the Nasdaq-100 index, 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 12.35%, 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 Dec. 27, 2022 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
|
| 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 S&P 500 index
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| Amount: | $850,000
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| Maturity: | March 26, 2024
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| Coupon: | 12.35% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
| 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
|
| Call: | Starting Dec. 27, 2022 at par on any quarterly call date
|
| Initial levels: | 11,637.79 for Nasdaq, 1,762.158 for Russell, 3,789.93 for S&P
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| Coupon barriers: | 8,146.453 for Nasdaq, 1,233.511 for Russell, 2,652.951 for S&P, 70% of initial levels
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| Downside threshold: | 6,982.674 for Nasdaq, 1,057.295 for Russell, 2,273.958 for S&P, 60% of initial levels
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| Pricing date: | Sept. 21, 2022
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| Settlement date: | Sept. 26, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61774HFD5
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