Published on 2/8/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $16.56 million callable contingent income securities on indexes, ETF
By Wendy Van Sickle
Columbus, Ohio, Feb. 8 – Morgan Stanley Finance LLC priced $16.56 million of callable contingent income securities due Aug. 6, 2026 linked to the Russell 2000 index, the iShares MSCI EAFE ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.52%, paid quarterly, if each underlier closes at or above its 80% coupon barrier on every day that period.
The securities may be called starting Aug. 8 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 60% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying assets: | Russell 2000 index, iShares MSCI EAFE ETF and S&P 500 index
|
| Amount: | $16,556,000
|
| Maturity: | Aug. 6, 2026
|
| Coupon: | 10.52%, paid quarterly, if each underlier closes at or above its 80% coupon barrier on every day that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
|
| Call: | Starting Aug. 8 at par on any quarterly call date
|
| Initial levels: | $75.89 for ETF, 1,991.031 for Russell, 4,477.44 for S&P
|
| Coupon barriers: | $60.712 for ETF, 1,592.825 for Russell, 3,581.952 for S&P; 80% of initial levels
|
| Downside thresholds: | $45.534 for ETF, 1,194.619 for Russell, 2,686.464 for S&P; 60% of initial levels
|
| Pricing date: | Feb. 3
|
| Settlement date: | Feb. 8
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61773HP37
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
