Published on 1/24/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.16 million callable contingent income securities on four stocks
New York, Jan. 24 – Morgan Stanley Finance LLC priced $2.16 million of callable contingent income securities due Jan. 22, 2027 linked to the common stocks of Amazon.com, Inc., Costco Wholesale Corp., Walmart Inc. and Target Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 19%, paid monthly, if each underlying stock 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 stock finishes below its 60% downside threshold, in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | Amazon.com, Inc., Costco Wholesale Corp., Walmart Inc. and Target Corp.
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| Amount: | $2,155,000
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| Maturity: | Jan. 22, 2027
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| Coupon: | 19%, paid monthly, if each underlying stock 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 stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying stock
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| Call option: | At par on any quarterly call date
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| Initial levels: | $155.34 for Amazon.com, $694.97 for Costco Wholesale, $138.14 for Target, $162.38 for Walmart
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| Downside thresholds: | $93.204 for Amazon.com, $416.982 for Costco Wholesale, $82.884 for Target, $97.428 for Walmart, 60% of initial levels
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| Coupon barriers: | $108.738 for Amazon.com, $486.479 for Costco Wholesale, $96.698 for Target, $113.666 for Walmart, 70% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61771WPA0
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