Published on 12/19/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $835,000 13.2% callable contingent income notes on index, ETF
By Kiku Steinfeld
Chicago, Dec. 19 – Morgan Stanley Finance LLC priced $835,000 of callable contingent income securities due Oct. 24, 2024 linked to Russell 2000 index, Technology Select Sector SPDR Fund and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.2%, 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 July 26, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 60% 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
|
Issue: | Callable contingent income securities
|
Underlying assets: | Russell 2000 index, Technology Select Sector SPDR Fund and Dow Jones industrial average
|
Amount: | $835,000
|
Maturity: | Oct. 24, 2024
|
Coupon: | 13.2%, 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 July 26, 2023 at par on any quarterly call date
|
Initial levels: | 33,808.96 for Dow, 1,791.506 for Russell, $147.76 for Technology Select Sector SPDR Fund
|
Downside thresholds: | 20,285.376 for Dow, 1,074.904 for Russell, $88.656 for Technology Select Sector SPDR Fund, 60% of initial levels
|
Coupon barriers: | 23,666.272 for Dow, 1,254.054 for Russell, $103.432 for Technology Select Sector SPDR Fund, 70% of initial levels
|
Pricing date: | April 21, 2023
|
Settlement date: | April 26, 2023
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 0.375%
|
Cusip: | 61774XSF1
|
|
© 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.