Published on 4/25/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $10.42 million callable contingent income securities on indexes
New York, April 25 – Morgan Stanley Finance LLC priced $10.42 million of callable contingent income securities due April 23, 2026 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.5%, paid monthly, if each underlying index closes at or above its 75% downside threshold on the related monthly observation date.
The securities may be called at par on any quarterly call date starting April 24, 2025.
At maturity, the payout will be par unless the worst performing index finishes below its 75% downside threshold, in which case investors will be fully exposed to the decline of the worst performing 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $10,424,000
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Maturity: | April 23, 2026
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Coupon: | 10.5%, paid monthly, if each underlying index closes at or above its 75% 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 index
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Call option: | At par on any quarterly call date starting April 24, 2025
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Initial levels: | 37,986.40 for Dow Jones industrial average, 1,947.656 for Russell 2000, 4,967.23 for S&P 500
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Downside thresholds: | 28,489.80 for Dow Jones industrial average, 1,460.742 for Russell 2000, 3,725.423 for S&P 500, 75% of initial levels
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Pricing date: | April 19
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Settlement date: | April 24
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.4%
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Cusip: | 61776LB48
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