Published on 8/13/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.08 million 10% callable contingent income notes on indexes
By Kiku Steinfeld
Chicago, Aug. 15 – Morgan Stanley Finance LLC priced $1.08 million of callable contingent income securities due Jan. 19, 2024 linked to Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, 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.
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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
|
| Amount: | $1,077,000
|
| Maturity: | Jan. 19, 2024
|
| Coupon: | 10%, paid quarterly, if each underlying index closes at or above its coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| 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
|
| Call option: | At par on any quarterly call date
|
| Initial levels: | 36,113.62 for Dow, 15,495.62 for Nasdaq, 2,159.437 for Russell
|
| Downside thresholds: | 25,279.534 for Dow, 10,846.934 for Nasdaq, 1,511.606 for Russell, 70% of initial levels
|
| Coupon barriers: | 27,085.215 for Dow, 11,621.715 for Nasdaq, 1,619.578 for Russell, 75% of initial levels
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 19
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61773HB57
|
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