Published on 1/12/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million 10% callable contingent income buffered securities on indexes, fund
New York, Jan. 12 – Morgan Stanley Finance LLC priced $1 million of callable contingent income buffered securities due Jan. 8, 2026 linked to Utilities Select Sector SPDR Fund, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting April 10 at par on any quarterly call date.
At maturity the payout will be par if the worst performing asset gains or declines by no more than its 20% buffer. Otherwise investors will receive par less 125% of the decline of the worst performing asset beyond the buffer.
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 buffered securities
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| Underlying assets: | Utilities Select Sector SPDR Fund, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1 million
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| Maturity: | Jan. 8, 2026
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| Coupon: | 10%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par if worst performing asset gains or declines by no more than its buffer; otherwise par less 125% of loss of worst performing asset beyond buffer
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| Call: | Starting April 10 at par on any quarterly call date
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| Initial levels: | 16,305.98 for Nasdaq-100, 1,951.142 for Russell 2000, $64.53 for Utilities Select Sector SPDR Fund
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| Coupon barriers: | 11,414.186 for Nasdaq-100 index, 1,365.799 for Russell 2000 index, $45.171 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Buffer: | 20%
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| Buffer level: | 13,044.784 for Nasdaq-100 index, 1,560.914 for Russell 2000 index, $51.624 for Utilities Select Sector SPDR Fund, 80% of initial level
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| Downside leverage: | 125%
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| Pricing date: | Jan. 5
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| Settlement date: | Jan. 10
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61771WFT0
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