Published on 10/3/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $100,000 more callable contingent income securities on three indexes
By Kiku Steinfeld
Chicago, Oct. 3 – Morgan Stanley Finance LLC priced an additional $100,000 of callable contingent income securities due Sept. 19, 2024 linked to the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The company originally priced $1,688,000 on March 15, 2023. The total amount of notes priced is now $1,688,100.
Investors will receive a coupon of 12.6%, paid monthly, if each underlying index closes at or above its 70% downside threshold 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 70% 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 Dow Jones industrial average
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| Amount: | $100,000 add-on
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| Total issue size: | $1,688,100 including $1,688,000 priced on March 15, 2023
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| Maturity: | Sept. 19, 2024
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| Coupon: | 12.6%, paid monthly, if each underlying index closes at or above its 70% 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 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: | 31,874.57 for Dow, 12,251.32 for Nasdaq, 1,745.945 for Russell
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| Downside thresholds: | 22,312.199 for Dow, 8,575.924 for Nasdaq, 1,222.162 for Russell, 70% of initial levels
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| Pricing date: | March 23, 2023
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| Settlement date: | March 24, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61774T7K2
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