Published on 11/1/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.42 million callable contingent income notes tied to indexes
New York, Nov. 1 – Morgan Stanley Finance LLC priced $2.42 million of callable contingent income securities due March 30, 2023 linked to the worst performing of the S&P 500 index, the Nasdaq-100 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.2%, 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 starting June 30 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
|
| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying indexes: | S&P 500 index, Nasdaq-100 index and MSCI Emerging Markets index
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| Amount: | $2,419,000
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| Maturity: | March 30, 2023
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| Coupon: | 8.2% annual rate, paid quarterly, if each underlying index closes at or above its downside threshold on the related quarterly observation date
|
| Price: | Par
|
| 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 underlying index
|
| Call option: | Starting June 30 on any quarterly call date
|
| Initial level: | 1,288.42 for MSCI EM, 12,780.51 for Nasdaq, 3,909.52 for S&P 500
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| Downside threshold: | 837.473 for MSCI EM, 8,307.332 for Nasdaq, 2,541.188 for S&P 500, 65% of initial levels
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| Pricing date: | March 25
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| Settlement date: | March 30
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
|
| Cusip: | 61771VNJ5
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