Published on 1/26/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $10 million 10% callable contingent income buffered securities on indexes
New York, Jan. 26 – Morgan Stanley Finance LLC priced $10 million of callable contingent income buffered securities due July 15, 2027 linked to Euro Stoxx 50 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 10%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called starting April 17 at par on any quarterly call date.
At maturity the payout will be par if the worst performing index gains or declines by no more than its 30% buffer. Otherwise investors will receive par less 142.86% of the decline of the worst performing index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income buffered securities
|
| Underlying indexes: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
|
| Amount: | $10 million
|
| Maturity: | July 15, 2027
|
| Coupon: | 10%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par if worst performing index gains or declines by no more than its buffer; otherwise par less 142.86% of loss of worst performing index beyond buffer
|
| Call: | Starting April 17 at par on any quarterly call date
|
| Initial levels: | 1,950.964 for Russell 2000, 4,783.83 for S&P 500, 4,480.02 for Euro Stoxx 50
|
| Coupon barriers: | 1,463.223 for Russell 2000 index, 3,587.873 for S&P 500 index, 3,360.015 for Euro Stoxx 50 index, 75% of initial levels
|
| Buffer: | 30%
|
| Buffer level: | 1,365.675 for Russell 2000 index, 3,348.681 for S&P 500 index, 3,136.014 for Euro Stoxx 50 index, 70% of initial level
|
| Downside leverage: | 142.86%
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 22
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.05%
|
| Cusip: | 61771WPF9
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
