Published on 3/19/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.1 million 9.21% callable contingent income notes on indexes
Chicago, March 19 – Morgan Stanley Finance LLC priced $2.1 million of callable contingent income securities due Sept. 5, 2025 linked to worst performing of the Nasdaq-100 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 9.21%, paid monthly, if each underlying index closes at or above its 60% coupon barrier on the related monthly observation date.
The securities may be called starting Sept. 6, 2024 at par on any quarterly call date.
At maturity the payout will be par if all three indexes finish above their initial levels or if no index closes below the 60% trigger level during the life of the notes. Otherwise, investors will be fully exposed to the losses of the worst performer.
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 securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
|
| Amount: | $2.1 million
|
| Maturity: | Sept. 5, 2025
|
| Coupon: | 9.21% annual rate, paid monthly, if each underlying index closes at or above its 60% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if all three indexes finish positive or if no index closes below trigger level during life of notes; otherwise, full exposure to losses of worst performer
|
| Call: | Starting Sept. 6, 2024 at par on any quarterly call date
|
| Initial levels: | 39,087.38 for Dow, 18,302.91 for Nasdaq, 2,076.395 for Russell
|
| Downside thresholds: | 23,452.428 for Dow, 10,981.746 for Nasdaq, 1,245.837 for Russell, 60% of initial levels
|
| Trigger levels: | 23,452.428 for Dow, 10,981.746 for Nasdaq, 1,245.837 for Russell, 60% of initial levels
|
| Pricing date: | March 1
|
| Settlement date: | March 6
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.65%
|
| Cusip: | 61771W4E5
|
|
|
© 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.
