Published on 6/30/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.35 million callable contingent income securities on indexes
New York, June 30 – Morgan Stanley Finance LLC priced $1.35 million of callable contingent income securities due Dec. 30, 2024 linked to the Nasdaq-100 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.25%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date.
The securities may be called at par on any quarterly call date starting June 29, 2023.
At maturity, the payout will be par unless the worst performing index finishes 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: | Nasdaq-100 index, S&P 500 index and Dow Jones industrial average
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Amount: | $1,351,000
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Maturity: | Dec. 30, 2024
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Coupon: | 11.25%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless the worst performing index finishes 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 option: | At par on any quarterly call date starting June 29, 2023
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Initial levels: | 31,500.68 for Dow Jones industrial average, 12,105.85 for Nasdaq-100, 3,911.74 for S&P 500
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Downside threshold: | 22,050.476 for Dow Jones industrial average, 8,474.095 for Nasdaq-100, 2,738.218 for S&P 500, 70% of initial levels
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Coupon barrier: | 25,200.544 for Dow Jones industrial average, 9,684.68 for Nasdaq-100, 3,129.392 for S&P 500, 80% of initial levels
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Pricing date: | June 24
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Settlement date: | June 29
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.5%
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Cusip: | 61774DRA7
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