Published on 3/18/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $7.81 million callable contingent income securities on three indexes
New York, March 18 – Morgan Stanley Finance LLC priced $7.81 million of callable contingent income securities due March 14, 2024 linked to S&P 500 index, Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.05%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on every trading day during the observation period.
The securities may be called starting June 16 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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $7,812,000
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Maturity: | March 14, 2024
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Coupon: | 10.05%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on every trading day during the observation period
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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: | Starting June 16 at par on any quarterly call date
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Initial levels: | 1,979.668 for Russell 2000 index, 4,204.31 for S&P 500 index, 3,686.78 for Euro Stoxx 50 index
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Downside threshold: | 1,187.801 for Russell 2000 index, 2,522.586 for S&P 500 index, 2,212.068 for Euro Stoxx 50 index, 60% of initial levels
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Pricing date: | March 11
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Settlement date: | March 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61773QNB1
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