Published on 7/15/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $821,000 callable contingent income securities on Dow, S&P
New York, July 15 – Morgan Stanley Finance LLC priced $821,000 of callable contingent income securities due July 5, 2024 linked to the Dow Jones industrial average and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting Jan. 5, 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: | Dow Jones industrial average and S&P 500 index
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| Amount: | $821,000
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| Maturity: | July 5, 2024
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| Coupon: | 9.5%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier 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 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 Jan. 5, 2023
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| Initial levels: | 30,775.43 for Dow Jones industrial average, 3,785.38 for S&P 500
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| Downside threshold: | 21,542.801 for Dow Jones industrial average, 2,649.766 for S&P 500, 70% of initial levels
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| Coupon barrier: | 23,081.573 for Dow Jones industrial average, 2,839.035 for S&P 500, 75% of initial levels
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61774DMU8
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