Published on 3/19/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.01 million callable contingent income securities on indexes, ETF
New York, March 19 – Morgan Stanley Finance LLC priced $5.01 million of callable contingent income securities due March 12, 2026 linked to the Russell 2000 index, the Utilities Select Sector SPDR Fund and the Nasdaq-100 Technology Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing asset finishes below its 60% 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, Utilities Select Sector SPDR Fund and Nasdaq-100 Technology Sector index
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| Amount: | $5.01 million
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| Maturity: | March 12, 2026
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| Coupon: | 11%, paid quarterly, if each underlier 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 asset finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing asset
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| Call option: | At par on any quarterly call date
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| Initial levels: | 10,415.33 for Nasdaq-100 Technology Sector, 2,082.713 for Russell 2000, $63.75 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | 6,249.198 for Nasdaq-100 Technology Sector, 1,249.628 for Russell 2000, $38.25 for Utilities Select Sector SPDR Fund, 60% of initial levels
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| Coupon barriers: | 7,290.731 for Nasdaq-100 Technology Sector, 1,457.899 for Russell 2000, $44.625 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 13
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61776LAL1
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