Published on 8/11/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.06 million callable contingent income securities on indexes, ETF
New York, Aug. 11 – Morgan Stanley Finance LLC priced $1.06 million of callable contingent income securities due Nov. 6, 2024 linked to the Russell 2000 index, the Technology Select Sector SPDR Fund and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.6%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing asset finishes 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
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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, Technology Select Sector SPDR Fund and Nasdaq-100 index
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Amount: | $1.06 million
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Maturity: | Nov. 6, 2024
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Coupon: | 11.6%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing asset finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying asset
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Call option: | At par on any quarterly call date
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Initial levels: | 15,718.01 for Nasdaq-100, 1,994.167 for Russell 2000, $178.65 for Technology Select Sector SPDR Fund
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Downside thresholds: | 11,002.607 for Nasdaq-100, 1,395.917 for Russell 2000, $125.055 for Technology Select Sector SPDR Fund, 70% of initial levels
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Coupon barriers: | 11,788.508 for Nasdaq-100, 1,495.625 for Russell 2000, $133.988 for Technology Select Sector SPDR Fund, 75% of initial levels
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Pricing date: | Aug. 1
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Settlement date: | Aug. 4
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.65%
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Cusip: | 61775HPR2
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