Published on 4/16/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.51 million callable contingent income securities on indexes
New York, April 16 – Morgan Stanley Finance LLC priced $1.51 million of callable contingent income securities due March 12, 2026 linked to the Nasdaq-100 Technology Sector index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly 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 index finishes below its 60% 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying indexes: | Nasdaq-100 Technology Sector index, Russell 2000 index and S&P 500 index
|
| Amount: | $1,505,000
|
| Maturity: | March 12, 2026
|
| Coupon: | 8%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing index
|
| Call option: | At par on any quarterly call date
|
| Initial levels: | 10,400.32 for Nasdaq-100 Technology Sector, 2,080.800 for Russell 2000, 5,209.91 for S&P 500
|
| Downside thresholds: | 6,240.192 for Nasdaq-100 Technology Sector, 1,248.480 for Russell 2000, 3,125.946 for S&P 500, 60% of initial levels
|
| Coupon barriers: | 7,280.224 for Nasdaq-100 Technology Sector, 1,456.560 for Russell 2000, 3,646.937 for S&P 500, 70% of initial levels
|
| Pricing date: | April 9
|
| Settlement date: | April 12
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.625%
|
| Cusip: | 61776LQB6
|
|
|
|
|
© 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.
