Published on 4/14/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $7.08 million callable contingent income securities on three indexes
New York, April 14 – Morgan Stanley Finance LLC priced $7.08 million of callable contingent income securities due April 11, 2024 linked to the S&P 500 index, the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.15%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on every trading day during the observation period.
The securities may be called starting July 13 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, Russell 2000 index and Euro Stoxx 50 index
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Amount: | $7,075,000
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Maturity: | April 11, 2024
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Coupon: | 11.15%, paid quarterly, if each underlying index closes at or above its 70% 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 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 July 13 at par on any quarterly call date
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Initial levels: | 1,994.562 for Russell 2000 index, 4,488.28 for S&P 500 index, 3,858.37 for Euro Stoxx 50 index
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Downside threshold: | 1,396.193 for Russell 2000 index, 3,141.796 for S&P 500 index, 2,700.859 for Euro Stoxx 50 index, 70% of initial levels
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Pricing date: | April 8
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Settlement date: | April 13
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61773QK81
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