Published on 6/30/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $10.89 million callable contingent income notes on indexes
By Wendy Van Sickle
Columbus, Ohio, June 30 – Morgan Stanley Finance LLC sold $10.89 million of callable contingent income securities due June 21, 2023 tied to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 8.05% per year if each index closes at or above its coupon threshold level, 75% of its initial level, on every day that period.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to the performance of the least performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Callable contingent income securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $10,889,000
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| Maturity: | June 21, 2023
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| Coupon: | 8.05% per year, payable quarterly if each index closes at or above its coupon threshold level on every day that period
|
| Price: | Par
|
| Call option: | At par on any quarterly observation date
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| Payout at maturity: | Par unless any index finishes below its downside threshold, in which case investors will be fully exposed to the performance of the least performing index
|
| Initial levels: | 13,983.01 for Nasdaq, 2,314.691 for Russell, 4,223.7 for S&P
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| Coupon barrier levels: | 10,487.258 for Nasdaq, 1,736.018 for Russell, 3,167.775 for S&P; 75% of initial levels
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| Trigger levels: | 10,487.258 for Nasdaq, 1,736.018 for Russell, 3,167.775 for S&P; 75% of initial levels
|
| Pricing date: | June 16
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| Settlement date: | June 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.5%
|
| Cusip: | 61771VZ29
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