Published on 5/16/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.93 million callable contingent income securities on three indexes
New York, May 16 – Morgan Stanley Finance LLC priced $1.93 million of callable contingent income securities due Nov. 15, 2024 linked to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.4%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting Aug. 16 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 65% 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: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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Amount: | $1,929,000
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Maturity: | Nov. 15, 2024
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Coupon: | 11.4%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier 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 Aug. 16 at par on any quarterly call date
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Initial levels: | 1,718.144 for Russell 2000, 3,935.18 for S&P 500, 3,647.87 for Euro Stoxx 50
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Downside threshold: | 1,116.794 for Russell 2000, 2,557.867 for S&P 500, 2,371.116 for Euro Stoxx 50, 65% of initial levels
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Coupon barrier: | 1,202.701 for Russell 2000 index, 2,754.626 for S&P 500 index, 2,553.509 for Euro Stoxx 50 index, 70% of the initial levels
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Pricing date: | May 11
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Settlement date: | May 16
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.75%
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Cusip: | 61774DCD7
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