Published on 3/25/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.16 million callable contingent income securities on index, ETF
New York, March 25 – Morgan Stanley Finance LLC priced $1.16 million of callable contingent income securities due March 23, 2027 linked to the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.4%, 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 starting Sept. 23, 2024.
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 and iShares MSCI Emerging Markets ETF
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Amount: | $1,162,000
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Maturity: | March 23, 2027
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Coupon: | 8.4%, 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 starting Sept. 23, 2024
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Initial levels: | $40.84 for iShares MSCI Emerging Markets ETF, 2,024.735 for Russell 2000
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Downside thresholds: | $24.504 for iShares MSCI Emerging Markets ETF, 1,214.841 for Russell 2000, 60% of initial levels
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Coupon barriers: | $28.588 for iShares MSCI Emerging Markets ETF, 1,417.315 for Russell 2000, 70% of initial levels
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Pricing date: | March 18
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Settlement date: | March 21
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61776LDB0
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