Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.73 million 7.55% callable contingent income securities on indexes, ETF
New York, Feb. 15 – Morgan Stanley Finance LLC priced $1.73 million of callable contingent income securities due Nov. 14, 2025 linked to S&P 500 index, iShares Russell 2000 ETF and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.55%, paid monthly, if each underlier closes at or above its 70% downside threshold on the related monthly observation date.
The securities may be called starting Aug. 14, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 70% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | S&P 500 index, iShares Russell 2000 ETF and Nasdaq-100 index
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Amount: | $1.73 million
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Maturity: | Nov. 14, 2025
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Coupon: | 7.55%, paid monthly, if each underlier closes at or above its 70% 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 asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
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Call: | Starting Aug. 14, 2024 at par on any quarterly call date
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Initial levels: | $199.34 for iShares Russell 2000 ETF, 17,962.40 for Nasdaq-100, 5,026.61 for S&P 500
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Downside thresholds: | $139.538 for iShares Russell 2000 ETF, 12,573.68 for Nasdaq-100, 3,518.627 for S&P 500, 70% of initial levels
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Pricing date: | Feb. 9
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Settlement date: | Feb. 14
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.2%
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Cusip: | 61771WTT5
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