Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $662,000 12.5% callable contingent income notes on indexes, ETF
Chicago, Oct. 16 – Morgan Stanley Finance LLC priced $662,000 of callable contingent income securities due Oct. 17, 2024 linked to the worst performing of the Russell 2000 index, SPDR S&P Regional Banking ETF and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting April 14, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 50% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | Russell 2000 index, SPDR S&P Regional Banking ETF and Nasdaq-100 index
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| Amount: | $662,000
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| Maturity: | Oct. 17, 2024
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| Coupon: | 12.5% annual rate, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
|
| Call: | Starting April 14, 2023 at par on any quarterly call date
|
| Initial levels: | $59.95 for banking, 10,791.35 for Nasdaq, 1,692.916 for Russell
|
| Coupon barriers: | $41.965 for banking, 7,553.945 for Nasdaq, 1,185.041 for Russell, 70% of initial levels
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| Downside thresholds: | $29.975 for banking, 5,395.675 for Nasdaq, 846.458 for Russell, 50% of initial levels
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| Pricing date: | Oct. 11, 2022
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| Settlement date: | Oct. 14, 2022
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
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| Cusip: | 61774HMR6
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