Published on 7/20/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2 million callable contingent income securities on Dow, S&P
New York, July 20 – Morgan Stanley Finance LLC priced $2 million of callable contingent income securities due Jan. 19, 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 8.25%, paid monthly, if each underlying index closes at or above its 60% downside threshold on the related monthly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing index finishes below its 60% 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: | $2 million
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| Maturity: | Jan. 19, 2024
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| Coupon: | 8.25%, paid monthly, if each underlying index closes at or above its 60% downside threshold 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
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| Initial levels: | 31,288.26 for Dow Jones industrial average, 3,863.16 for S&P 500
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| Downside threshold: | 18,772.956 for Dow Jones industrial average, 2,317.896 for S&P 500, 60% of initial levels
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| Pricing date: | July 15
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| Settlement date: | July 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61774DZX8
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