Published on 5/13/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.33 million contingent income securities on Russell, Dow
By William Gullotti
Buffalo, N.Y., May 13 – Morgan Stanley Finance LLC priced $3.33 million of contingent income securities due May 16, 2023 tied to the worst performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at the rate of 7.15% per year if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
If all indexes finish at or above the downside threshold level, 65% of initial level, the payout at maturity will be par plus all unpaid coupons. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income securities
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index
|
| Amount: | $3,331,000
|
| Maturity: | May 16, 2023
|
| Coupon: | 7.15% per year, payable monthly if each index closes at or above coupon barrier level on observation date that period; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold, par plus all unpaid coupons; otherwise, full exposure to decline of lowest-performing index from its initial level
|
| Initial levels: | 1,761.789 for Russell and 32,160.74 for Dow
|
| Coupon barriers: | 1,145.163 for Russell and 20,904.481 for Dow; 65% of initial levels
|
| Downside threshold levels: | 1,145.163 for Russell and 20,904.481 for Dow; 65% of initial levels
|
| Pricing date: | May 10
|
| Settlement date: | May 13
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.7%
|
| Cusip: | 61774DBL0
|
|
|
|
|
© 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.
