Published on 10/20/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.98 million callable contingent income securities on indexes, ETF
New York, Oct. 20 – Morgan Stanley Finance LLC priced $3.98 million of callable contingent income securities due Sept. 19, 2024 linked to the Russell 2000 index, the SPDR S&P Regional Banking ETF and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid quarterly, if each underlier closes at or above its 72.07% 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 72.07% 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: | Russell 2000 index, SPDR S&P Regional Banking ETF and Nasdaq-100 index
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| Amount: | $3,975,000
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| Maturity: | Sept. 19, 2024
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| Coupon: | 15%, paid quarterly, if each underlier closes at or above its 72.07% 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, 11,861.38 for Nasdaq-100, 1,798.189 for Russell 2000
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| Downside thresholds: | $45.368 for SPDR S&P Regional Banking ETF, 8,548.497 for Nasdaq-100, 1,295.955 for Russell 2000, 72.07% 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: | 1.75%
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| Cusip: | 61774HBZ0
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