Published on 2/17/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.03 million callable contingent income securities on indexes
New York, Feb. 17 – Morgan Stanley Finance LLC priced $1.03 million of callable contingent income securities due Feb. 20, 2024 linked to the Dow Jones industrial average, 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 7.7%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing index finishes below its 60% 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,025,000
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| Maturity: | Feb. 20, 2024
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| Coupon: | 7.7%, paid monthly, if each underlying index closes at or above its 70% coupon barrier 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 quarterly call date
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| Initial levels: | 34,245.93 for Dow Jones industrial average, 1,941.143 for Russell 2000, 4,137.29 for S&P 500
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| Downside threshold: | 20,547.558 for Dow Jones industrial average, 1,164.686 for Russell 2000, 2,482.374 for S&P 500, 60% of initial levels
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| Coupon barriers: | 23,972.151 for Dow Jones industrial average, 1,358.800 for Russell 2000, 2,896.103 for S&P 500, 70% of initial levels
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| Pricing date: | Feb. 13
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| Settlement date: | Feb. 16
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61774TG22
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