Published on 10/24/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $946,000 11.9% callable contingent income securities linked to indexes
New York, Oct. 24 – Morgan Stanley Finance LLC priced $946,000 of callable contingent income securities due March 27, 2025 linked to S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.9%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called starting March 28, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index finishes below its 70% 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: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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Amount: | $946,000
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Maturity: | March 27, 2025
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Coupon: | 11.9%, paid quarterly, if each underlying index closes at or above its 70% 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: | Starting March 28, 2023 at par on any quarterly call date
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Initial levels: | 11,311.24 for Nasdaq-100, 1,679.590 for Russell 2000, 3,693.23 for S&P 500
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Downside threshold: | 7,917.868 for Nasdaq-100, 1,175.713 for Russell 2000, 2,585.261 for S&P 500, 70% of initial levels
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Pricing date: | Sept. 23, 2022
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Settlement date: | Sept. 28, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.75%
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Cusip: | 61774HFU7
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