Published on 7/24/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.43 million digital index-linked notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 24 – Morgan Stanley Finance LLC priced $2.43 million of 0% digital notes due Jan. 23, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index return is greater than or equal to 90% of the initial level, the payout at maturity will be par plus 14.78%.
Otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Digital index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $2,433,000
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Maturity: | Jan. 23, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is greater than or equal to 90% of the initial level, par plus 14.78%; otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%
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Initial index level: | 4,565.72
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Threshold level: | 4,109.148; 90% of initial level
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Pricing date: | July 19
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Settlement date: | July 26
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61775HLS4
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