Published on 1/31/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $7.4 million 11.5% callable contingent income notes on indexes
Chicago, Jan. 31 – Morgan Stanley Finance LLC priced $7.4 million of callable contingent income securities due Jan. 14, 2026 linked to the worst performing of the Nasdaq-100 Technology Sector 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 11.5%, paid monthly, if each underlying index closes at or above its 70% downside threshold on the related monthly observation date.
The securities may be called starting April 12 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
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| Issue: | Callable contingent income securities
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| Underlying indexes: | Nasdaq-100 Technology Sector index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $7,399,000
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| Maturity: | Jan. 14, 2026
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| Coupon: | 11.5% annual rate, paid monthly, if each underlying index closes at or above its 70% downside threshold 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: | Starting April 12 at par on any quarterly call date
|
| Initial levels: | 37,525.16 for Dow, 9,431.27 for Tech, 1,968.035 for Russell
|
| Downside threshold: | 26,267.612 for Dow, 6,601.889 for Tech, 1,377.625 for Russell, 70% of initial levels
|
| Pricing date: | Jan. 9
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| Settlement date: | Jan. 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
|
| Cusip: | 61771WKR8
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