Published on 12/23/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.5 million callable contingent income securities on indexes
New York, Dec. 23 – Morgan Stanley Finance LLC priced $1.5 million of callable contingent income securities due June 22, 2026 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 10.5%, 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 at par on any quarterly call date.
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: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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Amount: | $1.5 million
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Maturity: | June 22, 2026
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Coupon: | 10.5%, 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 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
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Initial levels: | 1,774.606 for Russell 2000, 3,895.75 for S&P 500, 3,835.70 for Euro Stoxx 50
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Downside threshold: | 887.303 for Russell 2000, 1,947.875 for S&P 500, 1,917.85 for Euro Stoxx 50, 50% of initial levels
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Coupon barriers: | 1,242.224 for Russell 2000, 2,727.025 for S&P 500, 2,684.99 for Euro Stoxx 50, 70% of initial levels
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Strike date: | Dec. 15
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Pricing date: | Dec. 16
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Settlement date: | Dec. 21
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.5%
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Cusip: | 61774TEJ7
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