Published on 2/16/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.75 million callable contingent income securities on indexes
New York, Feb. 16 – Morgan Stanley Finance LLC priced $1.75 million of callable contingent income securities due Aug. 15, 2024 linked to the Nasdaq-100 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 8.8%, 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 at par on any quarterly call date starting Aug. 15, 2023.
If the notes have not been called, the payout at maturity will be par unless any index closes below its 50% downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from its initial level.
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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $1.75 million
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| Maturity: | Aug. 15, 2024
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| Coupon: | 8.8%, paid monthly, if each underlying index closes at or above its 60% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below its 50% downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from its initial level
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| Call option: | At par on any quarterly call date starting Aug. 15, 2023
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| Initial levels: | 12,304.92 for Nasdaq-100, 1,918.814 for Russell 2000, 4,090.46 for S&P 500
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| Downside threshold: | 6,152.46 for Nasdaq-100, 959.407 for Russell 2000, 2,045.23 for S&P 500, 50% of initial levels
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| Coupon barriers: | 7,382.952 for Nasdaq-100, 1,151.288 for Russell 2000, 2,454.276 for S&P 500, 60% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774TYY2
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