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Published on 7/12/2023 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $1.75 million 16% callable contingent income securities on ETFs

New York, July 12 – Morgan Stanley Finance LLC priced $1.75 million of callable contingent income securities due July 10, 2025 linked to Technology Select Sector SPDR Fund, SPDR S&P Regional Banking ETF and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 16%, paid monthly, if each underlying fund closes at or above its 60% coupon barrier on the related monthly observation date.

The securities may be called starting Oct. 11 at par on any quarterly call date.

At maturity the payout will be par unless the worst performing fund closes below its 50% downside threshold in which case investors will be fully exposed to the decline of the worst performing fund.

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 securities
Underlying ETFs:Technology Select Sector SPDR Fund, SPDR S&P Regional Banking ETF and VanEck Gold Miners ETF
Amount:$1.75 million
Maturity:July 10, 2025
Coupon:16%, paid monthly, if each underlying fund closes at or above its 60% coupon barrier on the related monthly observation date
Price:Par
Payout at maturity:Par unless the worst performing fund closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying fund
Call:Starting Oct. 11 at par on any quarterly call date
Initial levels:$29.83 for VanEck Gold Miners ETF, $41.22 for SPDR S&P Regional Banking ETF, $172.42 for Technology Select Sector SPDR Fund
Downside thresholds:$14.915 for VanEck Gold Miners ETF, $20.61 for SPDR S&P Regional Banking ETF, $86.21 for Technology Select Sector SPDR Fund, 50% of initial levels
Coupon barriers:$17.898 for VanEck Gold Miners ETF, $24.732 for SPDR S&P Regional Banking ETF, $103.452 for Technology Select Sector SPDR Fund, 60% of initial levels
Pricing date:July 5
Settlement date:July 10
Agent:Morgan Stanley & Co. LLC
Fees:0.25%
Cusip:61775HGN1

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