Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $755,000 17.25% callable contingent income notes on indexes
Chicago, Dec. 12 – Morgan Stanley Finance LLC priced $755,000 of callable contingent income securities due May 8, 2025 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.25%, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly observation date.
The securities may be called starting Aug. 10 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 80% 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: | $755,000
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Maturity: | May 8, 2025
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Coupon: | 17.25% annual rate, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index closes 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: | Starting Aug. 10 at par on any quarterly call date
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Initial levels: | 33,674.38 for Dow, 13,259.13 for Nasdaq, 1,759.879 for Russell
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Downside thresholds: | 26,939.504 for Dow, 10,607.304 for Nasdaq, 1,407.903 for Russell, 80% of initial levels
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Pricing date: | May 5, 2023
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Settlement date: | May 10, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.5%
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Cusip: | 61774XXL2
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