Published on 10/20/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.34 million callable contingent income securities on S&P, ETF
New York, Oct. 20 – Morgan Stanley Finance LLC priced $1.34 million of callable contingent income securities due June 21, 2024 linked to the S&P 500 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.25%, paid quarterly, if each underlier 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.
At maturity, the payout will be par unless the worst performing asset finishes below its 65% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying assets: | S&P 500 index and SPDR S&P Regional Banking ETF
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| Amount: | $1,338,000
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| Maturity: | June 21, 2024
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| Coupon: | 13.25%, paid quarterly, if each underlier 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 asset finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying asset
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| Call option: | At par on any quarterly call date
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| Initial levels: | $62.95 for SPDR S&P Regional Banking ETF, 3,873.33 for S&P 500
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| Downside thresholds: | $40.918 for SPDR S&P Regional Banking ETF, 2,517.665 for S&P 500, 65% of initial levels
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61774HCK2
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