Published on 4/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 8.5% callable contingent income notes on indexes
Chicago, April 26 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income securities due Nov. 29, 2024 linked to the worst performing of the S&P 500 index, Euro Stoxx 50 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.5%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called starting Nov. 30, 2022 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
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Guarantor: | Morgan Stanley
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Issue: | Callable contingent income securities
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Underlying indexes: | S&P 500 index, Euro Stoxx 50 index and Dow Jones industrial average
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Amount: | $250,000
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Maturity: | Nov. 29, 2024
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Coupon: | 8.5% annual rate, paid quarterly, if each underlying index closes at or above its 70% downside threshold 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 closes 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: | Starting Nov. 30, 2022 at par on any quarterly call date
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Initial levels: | 32,120.28 for Dow, 3,978.73 for S&P, 3,677.10 for Stoxx
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Downside threshold: | 22,484.196 for Dow, 2,785.111 for S&P, 2,573.97 for Stoxx, 70% of initial levels
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Pricing date: | May 25, 2022
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Settlement date: | May 31, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.35%
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Cusip: | 61773Q4S5
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