Published on 6/9/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.45 million callable contingent income securities on indexes
By Kiku Steinfeld
Chicago, June 9 – Morgan Stanley Finance LLC sold $1.45 million of callable contingent income securities due May 12, 2026 tied to the worst performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Quarterly, the notes will pay a contingent coupon at the rate of 7.6% per year if each index closes at or above its coupon threshold level, 70% of its initial level, on the related determination date.
The notes will be callable at par on any quarterly observation date after six months.
The payout at maturity will be par plus any coupon due unless any index finishes below its 60% downside threshold, in which case investors will be fully exposed to the performance of the least performing index.
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 indexes: | Nasdaq-100 index, Dow Jones industrial average, Russell 2000 index
|
| Amount: | $1,452,000
|
| Maturity: | May 12, 2026
|
| Coupon: | 7.6% per year, payable quarterly if each index closes at or above its coupon threshold level on the related determination date
|
| Price: | Par
|
| Call option: | At par on any quarterly observation date after six months
|
| Payout at maturity: | Par plus any coupon due unless any index finishes below its downside threshold, in which case investors will be fully exposed to the performance of the least performing index
|
| Initial levels: | 34,777.76 for Dow, 2,271.629 for Russell, 13,719.63 for Nasdaq
|
| Coupon threshold levels: | 24,344.432 for Dow, 1,590.140 for Russell, 9,603.741 Nasdaq; 70% of initial levels
|
| Downside threshold levels: | 20,866.656 for Dow, 1,362.977 for Russell, 8,231.778 for Nasdaq; 60% of initial levels
|
| Pricing date: | May 7
|
| Settlement date: | May 12
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 61771VL65
|
|
|
© 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.
