Published on 2/4/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.8 million callable contingent income securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 4 – Morgan Stanley Finance LLC priced $1.8 million of callable contingent income securities due Feb. 5, 2024 linked to the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.75%, 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 starting May 5, 2022 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,797,000
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| Maturity: | Feb. 5, 2024
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| Coupon: | 9.75%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier 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 worst performing underlying index
|
| Call: | Starting May 5, 2022 at par on any quarterly call date
|
| Initial level: | 35,131.86 for Dow, 14,930.05 for Nasdaq, 2,028.45 for Russell
|
| Downside threshold: | 24,592.302 for Dow, 10,451.03 for Nasdaq, 1,419.92 for Russell, 70% of the initial levels
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| Coupon barrier: | 24,592.302 for Dow, 10,451.03 for Nasdaq, 1,419.92 for Russell, 70% of the initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61773HYC7
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