Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1 million callable contingent income buffered notes on indexes, ETF
New York, Feb. 23 – Morgan Stanley Finance LLC priced $1 million of callable contingent income buffered securities due Feb. 19, 2026 linked to the Utilities Select Sector SPDR Fund, the Russell 2000 index and the Nasdaq-100 Technology Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par if the worst performing asset finishes at or above 80% of initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performing asset beyond 20%.
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 assets: | Utilities Select Sector SPDR Fund, Russell 2000 index and Nasdaq-100 Technology Sector index
|
| Amount: | $1 million
|
| Maturity: | Feb. 19, 2026
|
| Coupon: | 9%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if worst performing asset finishes at or above 80% of initial level; otherwise, lose 1% for each 1% decline of the worst performing asset beyond 20%
|
| Call option: | At par on any quarterly call date
|
| Initial levels: | 10,154.50 for Nasdaq-100 Technology Sector, 1,964.174 for Russell 2000, $59.96 for Utilities Select Sector SPDR Fund
|
| Coupon barriers: | 7,108.15 for Nasdaq-100 Technology Sector, 1,374.922 for Russell 2000, $41.972 for Utilities Select Sector SPDR Fund, 70% of initial levels
|
| Buffer: | 20%
|
| Buffer level: | 8,123.60 for Nasdaq-100 Technology Sector, 1,571.339 for Russell 2000, $47.968 for Utilities Select Sector SPDR Fund, 80% of initial levels
|
| Downside leverage: | 100%
|
| Pricing date: | Feb. 13
|
| Settlement date: | Feb. 16
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.55%
|
| Cusip: | 61771WYW2
|
|
|
|
|
|
|
© 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.
