Published on 3/11/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $9.49 million 8.3% callable contingent income securities on indexes
Chicago, March 11 – Morgan Stanley Finance LLC priced $9.49 million of callable contingent income securities due March 5, 2026 linked to the worst performing of the S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.3%, paid quarterly, if each underlying index closes at or above its 65% downside threshold on the related quarterly observation date.
The securities may be called starting June 6 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 65% downside threshold in which case investors will be fully exposed to the decline of the worst performing 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: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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Amount: | $9,488,000
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Maturity: | March 5, 2026
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Coupon: | 8.3% annual rate, paid quarterly, if each underlying index closes at or above its 65% downside threshold 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 index
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Call: | Starting June 6 at par on any quarterly call date
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Initial levels: | 18,302.91 for Nasdaq, 2,076.395 for Russell, 5,137.08 for S&P
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Downside thresholds: | 11,896.892 for Nasdaq, 1,349.657 for Russell, 3,339.102 for S&P, 65% of initial levels
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Pricing date: | March 1
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Settlement date: | March 6
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61771W3J5
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