Published on 10/16/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $927,000 11.8% callable fixed income securities on three indexes
Chicago, Oct. 16 – Morgan Stanley Finance LLC sold $927,000 of 11.8% callable fixed income securities due Oct. 5, 2023 tied to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes will be callable at par plus the coupon on any quarterly redemption date after six months.
If the notes are not called and each index finishes at or above its 70% downside threshold, the payout at maturity will be par plus the fixed coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level (with the final coupon).
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 fixed-income securities
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index, Russell 2000 index
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| Amount: | $927,000
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| Maturity: | Oct. 5, 2023
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| Coupon: | 11.8% per year, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon if each index finishes at or above downside threshold; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
|
| Call option: | At par plus fixed coupon on any quarterly redemption date after six months
|
| Initial levels: | 1,664.716 for Russell, 10,971.22 for Nasdaq, 3,585.62 for S&P
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| Downside threshold levels: | 1,165.301 for Russell, 7,679.854 for Nasdaq, 2,509.934 for S&P; 70% of initial levels
|
| Pricing date: | Sept. 30, 2022
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| Settlement date: | Oct. 5, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61774HER5
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