Published on 11/30/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.9 million 15% callable contingent income securities linked to MSCI Emerging Markets, iShares MSCI Brazil, S&P 500
New York, Nov. 30 – Morgan Stanley Finance LLC priced $1.9 million of callable contingent income securities due Nov. 24, 2023 linked to MSCI Emerging Markets index, iShares MSCI Brazil ETF and S&P 500 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 downside threshold on the related quarterly observation date.
The securities may be called starting Feb. 25, 2022 on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes 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: | MSCI Emerging Markets index, iShares MSCI Brazil ETF and S&P 500 index
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| Amount: | $1.9 million
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| Maturity: | Nov. 24, 2023
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| Coupon: | 15%, paid quarterly, if each underlier closes at or above its 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 closes 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: | Starting Feb. 25, 2022 on any quarterly call date
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| Initial levels: | $29.17 for iShares MSCI Brazil ETF, 1,269.22 for MSCI Emerging Markets, 4,697.96 for S&P 500
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| Downside thresholds: | $18.961 for iShares MSCI Brazil ETF, 824.993 for MSCI Emerging Markets, 3,053.674 for S&P 500, 65% of initial levels
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| Pricing date: | Nov. 19
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| Settlement date: | Nov. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61773HHX0
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