Published on 3/9/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 7.75% fixed income securities on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, March 9 – Morgan Stanley Finance LLC priced $250,000 of fixed income securities due Nov. 28, 2025 linked to the Russell 2000 index, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.75%, paid monthly.
If the worst performing index gains or ends above the 60% downside threshold, the payout at maturity will be par. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the downside threshold level.
The notes are non-callable.
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: | Fixed income securities
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Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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Amount: | $250,000
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Maturity: | Nov. 28, 2025
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Coupon: | 7.75%, paid monthly
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold level
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Initial levels: | 11,838.72 for Nasdaq, 1,863.517 for Russell, 4,027.26 for S&P
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Downside threshold: | 7,103.232 for Nasdaq, 1,118.110 for Russell, 2,416.356 for S&P, 60% of initial level
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Call: | Non-callable
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Pricing date: | Nov. 23, 2022
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Settlement date: | Nov. 29, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.6%
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Cusip: | 61774H3B2
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