Published on 5/24/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.13 million contingent income securities on S&P, Dow, Nasdaq
New York, May 24 – Morgan Stanley Finance LLC priced $1.13 million of contingent income securities due Aug. 21, 2023 linked to the S&P 500 index, the Dow Jones industrial average 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 monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
If the worst performing index finishes at or above its 60% downside threshold, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its initial level.
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: | Contingent income securities
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average and Nasdaq-100 index
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| Amount: | $1,125,000
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| Maturity: | Aug. 21, 2023
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| Coupon: | 7.8%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% decline of the worst performer from its initial level
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| Initial level: | 32,223.42 for Dow Jones industrial average, 12,243.58 for Nasdaq-100, 4,008.01 for S&P 500
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| Downside threshold: | 19,334.052 for Dow Jones industrial average, 7,346.148 for Nasdaq-100, 2,404.806 for S&P 500, 60% of initial level
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| Pricing date: | May 16
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| Settlement date: | May 19
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774DBD8
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