Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $734,000 14.5% callable contingent income notes on indexes, fund
Chicago, Feb. 13 – Morgan Stanley Finance LLC priced $734,000 of callable contingent income securities due Dec. 2, 2024 linked to the worst performing of the 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 14.5%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called starting Aug. 31, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 70% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying assets: | Russell 2000 index, Technology Select Sector SPDR Fund and Dow Jones industrial average
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| Amount: | $734,000
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| Maturity: | Dec. 2, 2024
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| Coupon: | 14.5% annual rate, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date
|
| Price: | Par
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| 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 Aug. 31, 2023 at par on any quarterly call date
|
| Initial levels: | 33,093.34 for Dow, 1,773.022 for Russell, $164.78 for tech fund
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| Coupon barriers: | 24,820.005 for Dow, 1,329.767 for Russell, $123.585 for tech fund, 75% of initial levels
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| Downside thresholds: | 23,165.338 for Dow, 1,241.115 for Russell, $115.346 for tech fund, 70% of initial levels
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| Pricing date: | May 26, 2023
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| Settlement date: | June 1, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61774XS95
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