Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $335,000 10.55% callable contingent income notes on indexes, fund
Chicago, Feb. 15 – Morgan Stanley Finance LLC priced $335,000 of callable contingent income securities due Jan. 7, 2027 linked to Russell 2000 index, Utilities Select Sector SPDR Fund and MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.55%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting July 8, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 60% 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: | Russell 2000 index, Utilities Select Sector SPDR Fund and MSCI Emerging Markets index
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| Amount: | $335,000
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| Maturity: | Jan. 7, 2027
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| Coupon: | 10.55% annual rate, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| 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 underlying asset
|
| Call: | Starting July 8, 2024 at par on any quarterly call date
|
| Initial levels: | 1,016.38 for EM, 2,012.795 for Russell, $64.25 for Utilities
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| Coupon barriers: | 711.466 for EM, 1,408.957 for Russell, $44.975 for Utilities, 70% of initial levels
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| Downside thresholds: | 609.828 for EM, 1,207.677 for Russell, $38.55 for Utilities, 60% of initial levels
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| Pricing date: | Jan. 2
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| Settlement date: | Jan. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61771WHS0
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