Published on 11/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.19 million 10.5% callable contingent income notes on indexes
Chicago, Nov. 17 – Morgan Stanley Finance LLC priced $1.19 million of callable contingent income securities due Sept. 6, 2024 linked to the worst performing of the 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 10.5%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting June 8 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes 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
|
| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,185,000
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| Maturity: | Sept. 6, 2024
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| Coupon: | 10.5% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
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| 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: | Starting June 8 at par on any quarterly call date at option of issuer
|
| Initial levels: | 33,794.66 for Dow, 14,035.21 for Nasdaq, 2,032.410 for Russell
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| Downside threshold: | 20,276.796 for Dow, 8,421.126 for Nasdaq, 1,219.446 for Russell, 60% of initial levels
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| Coupon barriers: | 23,656.262 for Dow, 9,824.647 for Nasdaq index, 1,422.687 for Russell index, 70% of initial levels
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| Pricing date: | March 3
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| Settlement date: | March 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61773QGP8
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