Published on 12/9/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.75 million callable contingent income securities on indexes
New York, Dec. 9 – Morgan Stanley Finance LLC priced $3.75 million of callable contingent income securities due July 22, 2024 linked to the Nasdaq-100 index, the Russell 2000 index and the 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 60% coupon barrier on the related monthly observation date.
The securities may be called at par on any quarterly call date starting April 20, 2023.
At maturity, the payout will be par unless the worst performing index finishes below its 50% 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, Russell 2000 index and Dow Jones industrial average
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| Amount: | $3,745,000
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| Maturity: | July 22, 2024
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| Coupon: | 10.5%, paid monthly, if each underlying index closes at or above its 60% 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 April 20, 2023
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| Initial levels: | 30,185.82 for Dow Jones industrial average, 11,062.53 for Nasdaq-100, 1,735.753 for Russell 2000
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| Downside threshold: | 15,092.91 for Dow Jones industrial average, 5,531.265 for Nasdaq-100, 867.877 for Russell 2000, 50% of initial levels
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| Coupon barriers: | 18,111.492 for Dow Jones industrial average, 6,637.518 for Nasdaq-100, 1,041.452 for Russell 2000, 60% of initial levels
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| Pricing date: | Oct. 17
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| Settlement date: | Oct. 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
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| Cusip: | 61774HWG9
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