Published on 3/20/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.54 million 11% callable contingent income on ETFs, index
Chicago, March 20 – Morgan Stanley Finance LLC priced $1.54 million of callable contingent income securities due March 4, 2027 linked to the worst performing of the Vanguard Real Estate ETF, Utilities Select Sector SPDR Fund and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, 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 June 6 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: | Vanguard Real Estate ETF, Utilities Select Sector SPDR Fund and Russell 2000 index
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| Amount: | $1,543,000
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| Maturity: | March 4, 2027
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| Coupon: | 11% annual rate, paid monthly, if each underlier closes at or above its 70% downside threshold on the related monthly observation date
|
| 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
|
| Call: | Starting June 6 at par on any quarterly call date
|
| Initial levels: | 2,076.395 for Russell, $86.57 for real estate ETF, $61.72 for utilities fund
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| Downside thresholds: | 1,453.477 for Russell, $60.599 for real estate ETF, $43.204 for utilities fund, 70% of initial levels
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| Pricing date: | March 1
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| Settlement date: | March 6
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61771W5F1
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