Published on 10/13/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.7 million callable contingent income securities on indexes
New York, Oct. 13 – Morgan Stanley Finance LLC priced $2.7 million of callable contingent income securities due April 3, 2025 linked to the S&P 500 index, the Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.6%, paid quarterly, if each underlying index closes at or above its 65% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting April 4, 2023.
At maturity, the payout will be par unless the worst performing index finishes 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: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $2,699,000
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| Maturity: | April 3, 2025
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| Coupon: | 10.6%, paid quarterly, if each underlying index closes at or above its 65% downside threshold 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 starting April 4, 2023
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| Initial levels: | 28,725.51 for Dow Jones industrial average, 1,664.716 for Russell 2000, 3,585.62 for S&P 500
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| Downside threshold: | 18,671.582 for Dow Jones industrial average, 1,082.065 for Russell 2000, 2,330.653 for S&P 500, 65% of initial levels
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61774HML9
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