Published on 5/23/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.35 million 8.7% callable contingent income securities on Russell, S&P
New York, May 23 – Morgan Stanley Finance LLC priced $2.35 million of callable contingent income securities due Feb. 13, 2025 linked to Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.7%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called starting Aug. 14 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 60% 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: | Russell 2000 index and S&P 500 index
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Amount: | $2.35 million
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Maturity: | Feb. 13, 2025
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Coupon: | 8.7%, paid quarterly, if each underlying index closes at or above its 60% 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. 14 at par on any quarterly call date
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Initial levels: | 1,749.677 for Russell 2000, 4,119.17 for S&P 500
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Downside threshold: | 1,049.806 for Russell 2000, 2,471.502 for S&P 500, 60% of initial levels
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Pricing date: | May 9
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Settlement date: | May 12
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.25%
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Cusip: | 61774XZT3
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