Published on 2/23/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $7.28 million callable contingent income securities on three indexes
New York, Feb. 23 – Morgan Stanley Finance LLC priced $7.28 million of callable contingent income securities due Feb. 15, 2024 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.8%, paid quarterly, if each underlying index closes at or above its 65% downside threshold on every trading day during the corresponding observation period.
The securities may be called starting May 16 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 65% 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: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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Amount: | $7,277,000
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Maturity: | Feb. 15, 2024
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Coupon: | 7.8%, paid quarterly, if each underlying index closes at or above its 65% downside threshold on every trading day during the observation period
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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 May 16 at par on any quarterly call date
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Initial level: | 14,253.84 for Nasdaq-100 index, 2,030.146 for Russell 2000 index, 4,418.64 for S&P 500 index
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Downside threshold: | 9,264.996 for Nasdaq-100 index, 1,319.595 for Russell 2000 index, 2,872.116 for S&P 500 index, 65% of initial levels
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Pricing date: | Feb. 11
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Settlement date: | Feb. 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61773H6G9
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