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Published on 11/20/2021 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $3.75 million fixed-rate step-up callable notes on 2% start rate

By Kiku Steinfeld

Chicago, Nov. 22 – Morgan Stanley Finance LLC priced $3.75 million of callable fixed-rate step-up notes due Nov. 18, 2029, according to a 424B2 with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

The coupon is initially 2%. It will step up to 2.2% on Nov. 18, 2026 and to 2.4% on Nov. 18, 2028. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable annually at par starting on Nov. 18, 2023.

Morgan Stanley & Co. LLC is the agent with Morgan Stanley Wealth Management handling distribution.

Issuer:Morgan Stanley Finance LLC
Guarantor:Morgan Stanley
Issue:Callable fixed-rate step-up notes
Amount:$3.75 million
Maturity:Nov. 18, 2029
Coupon:1.35%, stepping up to 2.2% on Nov. 18, 2026 and to 2.4% on Nov. 18, 2028; payable semiannually
Call option:Annually at par starting Nov. 18, 2023
Price:Par
Payout at maturity:Par
Pricing date:Nov. 16
Settlement date:Nov. 18
Agent:Morgan Stanley & Co. LLC
Distribution:Morgan Stanley Wealth Management
Fees:1%
Cusip:61766YGX3

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