Published on 2/29/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.04 million 8.45% callable contingent income notes on indexes
Chicago, Feb. 29 – Morgan Stanley Finance LLC priced $1.04 million of callable contingent income securities due Feb. 25, 2027 linked to the worst performing of the Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.45%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting May 24 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 60% 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
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Guarantor: | Morgan Stanley
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Issue: | Callable contingent income securities
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Underlying indexes: | Russell 2000 index and Nasdaq-100 index
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Amount: | $1,035,000
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Maturity: | Feb. 25, 2027
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Coupon: | 8.45% annual rate, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
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Price: | Par
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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
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Call: | Starting May 24 at par on any quarterly call date
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Initial levels: | 17,478.91 for Nasdaq, 1,994.743 for Russell
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Coupon barriers: | 12,235.237 for Nasdaq, 1,396.320 for Russell, 70% of initial levels
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Downside threshold: | 10,487.346 for Nasdaq, 1,196.846 for Russell, 60% of initial levels
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Pricing date: | Feb. 21
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Settlement date: | Feb. 26
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61771WL55
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