Published on 3/27/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.04 million 15% callable contingent income securities on index, ETFs
New York, March 27 – Morgan Stanley Finance LLC priced $1.04 million of callable contingent income securities due March 24, 2026 linked to SPDR S&P Biotech ETF, SPDR S&P Regional Banking ETF and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid quarterly, if each underlier closes at or above its 65% downside threshold on the related quarterly observation date.
The securities may be called starting Sept. 24, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 65% 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: | SPDR S&P Biotech ETF, SPDR S&P Regional Banking ETF and Russell 2000 index
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| Amount: | $1,035,000
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| Maturity: | March 24, 2026
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| Coupon: | 15%, paid quarterly, if each underlier closes at or above its 65% downside threshold on the related quarterly 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 asset
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| Call: | Starting Sept. 24, 2024 at par on any quarterly call date
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| Initial levels: | $47.34 for SPDR S&P Regional Banking ETF, 2,035.707 for Russell 2000, $93.85 for SPDR S&P Biotech ETF
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| Downside thresholds: | $30.771 for SPDR S&P Regional Banking ETF, 1,323.210 for Russell 2000, $61.003 for SPDR S&P Biotech ETF, 65% of initial levels
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| Pricing date: | March 19
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| Settlement date: | March 22
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61776LGG6
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