Published on 2/14/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.79 million callable contingent income securities on Russell
By Taylor Fox
New York, Feb. 16 – Morgan Stanley Finance LLC priced $3.79 million of callable contingent income securities due Oct. 14, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes will pay a coupon at the rate of 7.75% per year if the index closes at or above the coupon barrier level, 70% of the initial index level, on the observation date for that month.
Quarterly, beginning April 15, the notes will be callable at par on any interest payment date.
If the index finishes at or above the downside threshold level, 70% of its initial level, the payout at maturity will be par. If the index finishes below the downside threshold level, investors will be fully exposed to the index’s decline from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying index: | Russell 2000 index
|
| Amount: | $3,790,000
|
| Maturity: | Oct. 14, 2022
|
| Coupon: | 7.75% per year, payable monthly if index closes at or above coupon barrier level on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above downside threshold level, par; if index finishes below downside threshold level, full exposure to index’s decline from initial level
|
| Call option: | Quarterly beginning April 15, callable at par on any interest payment date
|
| Initial level: | 2,091.008
|
| Coupon barrier level: | 1,463.706, or 70% of initial level
|
| Downside threshold: | 1,463.706, or 70% of initial level
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 14
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.6%
|
| Cusip: | 61771ED47
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
