Published on 1/30/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $16.02 million 9% callable contingent income buffered notes on indexes
New York, Jan. 30 – Morgan Stanley Finance LLC priced $16.02 million of callable contingent income buffered securities due April 30, 2026 linked to S&P 500 Growth index, Russell 2000 index and S&P 500 Equal Weight index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, 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 starting April 30 at par on any quarterly call date.
At maturity the payout will be par if the worst performing index gains or declines by no more than its 25% buffer. Otherwise investors will receive par less 133.33% of the decline of the worst performing index beyond the buffer.
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 buffered securities
|
| Underlying indexes: | S&P 500 Growth index, Russell 2000 index and S&P 500 Equal Weight index
|
| Amount: | $16,023,000
|
| Maturity: | April 30, 2026
|
| Coupon: | 9%, 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 if worst performing index gains or declines by no more than its buffer; otherwise par less 133.33% of loss of worst performing index beyond buffer
|
| Call: | Starting April 30 at par on any quarterly call date
|
| Initial levels: | 1,975.878 for Russell 2000, 3,171.829 for S&P 500 Growth, 6,323.42 for S&P 500 Equal Weight
|
| Coupon barriers: | 1,481.909 for Russell 2000 index, 2,378.872 for S&P 500 Growth index, 4,742.565 for S&P 500 Equal Weight index, 75% of initial levels
|
| Buffer: | 25%
|
| Buffer level: | 1,481.909 for Russell 2000 index, 2,378.872 for S&P 500 Growth index, 4,742.565 for S&P 500 Equal Weight index, 75% of initial level
|
| Downside leverage: | 133.33%
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.06%
|
| Cusip: | 61771WRJ9
|
|
|
|
|
|
|
© 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.
