Published on 4/11/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.03 million callable contingent income securities on indexes
New York, April 11 – Morgan Stanley Finance LLC priced $1.03 million of callable contingent income securities due Jan. 9, 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 14%, paid monthly, if each underlying index closes at or above its 75% downside threshold on the related monthly observation date.
The securities may be called at par on any monthly call date starting July 10.
At maturity, the payout will be par unless the worst performing index finishes below its 75% downside threshold, in which case investors will be fully exposed to the decline of that index.
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: | $1.03 million
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Maturity: | Jan. 9, 2024
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Coupon: | 14%, paid monthly, if each underlying index closes at or above its 75% downside threshold on the related monthly observation date
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Price: | Par
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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 underlying index
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Call option: | At par on any monthly call date starting July 10
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Initial levels: | 12,967.20 for Nasdaq-100, 1,752.134 for Russell 2000, 4,090.38 for S&P 500
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Downside threshold: | 9,725.40 for Nasdaq-100, 1,314.101 for Russell 2000, 3,067.785 for S&P 500, 75% of initial levels
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Pricing date: | April 5
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Settlement date: | April 11
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.44%
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Cusip: | 61774XNJ8
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