Published on 8/5/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.18 million 32% contingent income notes on three stocks
By Kiku Steinfeld
Chicago, Aug. 5 – Morgan Stanley Finance LLC priced $1.18 million of contingent income securities due Jan. 12, 2023 linked to the common stocks of Snowflake Inc., SoFi Technologies, Inc. and Twilio Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 32%, paid monthly, if each underlying stock closes at or above its 60% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
If the worst performing stock gains or ends above its downside threshold, the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing stock declines if it finishes below its downside threshold level
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: | Contingent income securities
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| Underlying stocks: | Snowflake Inc., SoFi Technologies, Inc. and Twilio Inc.
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| Amount: | $1,176,000
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| Maturity: | Jan. 12, 2023
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| Coupon: | 32%, paid monthly, if each underlying stock closes at or above its 60% downside threshold on the related monthly observation date, plus any previously unpaid coupons
|
| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing stock declines if it finishes below its downside threshold level
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| Initial level: | $299.68 for Snowflake, $13.74 for SoFi, $230.20 for Twilio
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| Downside threshold: | $179.808 for Snowflake, $8.244 for SoFi, $138.12 for Twilio, 60% of initial level
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 13
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.2%
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| Cusip: | 61773HZT9
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