Published on 7/15/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $677,000 callable contingent income notes on indexes, fund
Chicago, July 17 – Morgan Stanley Finance LLC priced $677,000 of callable contingent income securities due July 15, 2025 linked to the worst performing of the Russell 2000 index, Technology Select Sector SPDR Fund and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.55%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called starting Jan. 16, 2024 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 70% 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
|
Guarantor: | Morgan Stanley
|
Issue: | Callable contingent income securities
|
Underlying assets: | Russell 2000 index, Technology Select Sector SPDR Fund and Nasdaq-100 index
|
Amount: | $677,000
|
Maturity: | July 15, 2025
|
Coupon: | 11.55% annual rate, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly 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 Jan. 16, 2024 at par on any quarterly call date
|
Initial levels: | 15,045.64 for Nasdaq, 1,895.252 for Russell, $171.66 for Technology fund
|
Downside thresholds: | 10,531.948 for Nasdaq, 1,326.676 for Russell, $120.162 for Technology fund, 70% of initial levels
|
Coupon barriers: | 11,284.23 for Nasdaq index, 1,421.439 for Russell, $128.745 for Technology fund, 75% of initial levels
|
Pricing date: | July 10
|
Settlement date: | July 13
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 0.65%
|
Cusip: | 61775HHE0
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.