Published on 12/5/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $715,000 13.5% callable contingent income notes on indexes
By Kiku Steinfeld
Chicago, Dec. 5 – Morgan Stanley Finance LLC priced $715,000 of callable contingent income securities due Oct. 24, 2024 linked to Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
|
| Amount: | $715,000
|
| Maturity: | Oct. 24, 2024
|
| Coupon: | 13.5%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| 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: | At par on any quarterly call date
|
| Initial levels: | 33,786.62 for Dow, 12,985.98 for Nasdaq, 1,789.697 for Russell
|
| Downside thresholds: | 23,650.634 for Dow, 9,090.186 for Nasdaq, 1,252.788 for Russell, 70% of initial levels
|
| Coupon barriers: | 25,339.965 for Dow, 9,739.485 for Nasdaq, 1,342.273 for Russell, 75% of initial levels
|
| Pricing date: | April 20, 2023
|
| Settlement date: | April 25, 2023
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.65%
|
| Cusip: | 61774XPY3
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
