Published on 3/11/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $4.5 million callable contingent income securities on three indexes
New York, March 11 – Morgan Stanley Finance LLC priced $4.5 million of callable contingent income securities due March 13, 2024 linked to the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called starting June 13 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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 Dow Jones industrial average
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| Amount: | $4.5 million
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| Maturity: | March 13, 2024
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| Coupon: | 9.75%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date
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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 June 13 at par on any quarterly call date
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| Initial level: | 32,632.64 for Dow Jones industrial average, 1,963.011 for Russell 2000 index, 4,170.70 for S&P 500 index
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| Downside threshold: | 22,842.848 for Dow Jones industrial average, 1,374.108 for Russell 2000 index, 2,919.49 for S&P 500 index, 70% of initial levels
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| Pricing date: | March 8
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| Settlement date: | March 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61773QMY2
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