Published on 4/9/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million callable contingent income securities on indexes, ETF
New York, April 9 – Morgan Stanley Finance LLC priced $1 million of callable contingent income securities due Oct. 7, 2026 linked to the Nasdaq-100 Technology Sector index, the Utilities Select Sector SPDR Fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.2%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly 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 asset finishes 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: | Nasdaq-100 Technology Sector index, Utilities Select Sector SPDR Fund and Russell 2000 index
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| Amount: | $1 million
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| Maturity: | Oct. 7, 2026
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| Coupon: | 12.2%, paid quarterly, if each underlier closes at or above its 70% coupon barrier 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 finishes 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 option: | At par on any quarterly call date
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| Initial levels: | 10,348.49 for Nasdaq-100 Technology Sector, 2,065.037 for Russell 2000, $65.36 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | 6,726.519 for Nasdaq-100 Technology Sector, 1,342.274 for Russell 2000, $42.484 for Utilities Select Sector SPDR Fund, 65% of initial levels
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| Coupon barriers: | 7,243.943 for Nasdaq-100 Technology Sector, 1,445.526 for Russell 2000, $45.752 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Strike date: | April 2
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| Pricing date: | April 3
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| Settlement date: | April 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.2%
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| Cusip: | 61776LQC4
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