Published on 7/30/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2 million 13% worst-of fixed coupon RevCons on three stocks
By William Gullotti
Buffalo, N.Y., July 30 – Morgan Stanley Finance LLC priced $2 million of 13% worst-of fixed coupon RevCons due June 7, 2023 linked to the worst performing of the stocks of Boeing Co., RH and Pinterest, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
If each stock finishes at or above the 60% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Worst-of fixed coupon RevCons
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| Underlying stocks: | Boeing Co., RH, Pinterest, Inc.
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| Amount: | $2 million
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| Maturity: | June 7, 2023
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| Coupon: | 13%, payable monthly
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, investors will be fully exposed to the decline of the least performing stock from its initial level
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| Initial share prices: | $255.62 for Boeing, $623.31 for RH, $64.07 for Pinterest
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| Downside thresholds: | $153.372 for Boeing, $373.986 for RH, $38.442 for Pinterest; 60% of initial levels
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| Strike date: | June 2
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| Pricing date: | June 3
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| Settlement date: | June 8
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| Underwriter: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61771V4X5
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