Published on 7/22/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.44 million 12% callable contingent income notes on indexes
Chicago, July 24 – Morgan Stanley Finance LLC priced $2.44 million of callable contingent income securities due July 17, 2025 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, 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 starting Oct. 18 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes 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: | $2.44 million
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| Maturity: | July 17, 2025
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| Coupon: | 12% annual rate, 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 closes 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: | Starting Oct. 18 at par on any quarterly call date
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| Initial levels: | 15,571.98 for Nasdaq, 1,950.891 for Russell, 4,510.04 for S&P
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| Downside thresholds: | 11,678.985 for Nasdaq, 1,463.168 for Russell, 3,382.53 for S&P, 75% of initial levels
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| Pricing date: | July 13
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| Settlement date: | July 18
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61775HJZ1
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