Published on 12/10/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.88 million callable contingent income securities on three indexes
New York, Dec. 10 – Morgan Stanley Finance LLC priced $1.88 million of callable contingent income securities due Sept. 12, 2023 linked to the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.6%, paid quarterly, if each underlying index closes at or above its downside threshold on the related quarterly observation date.
The securities may be called starting March 10, 2022 at par on any quarterly call date.
If the securities have not been called, the payout at maturity will be par unless any index closes below its downside threshold during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial 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: | Callable contingent income securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,878,000
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| Maturity: | Sept. 12, 2023
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| Coupon: | 10.6%, paid quarterly, if each underlying index 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 index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying index
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| Call: | Starting March 10, 2022 at par on any quarterly call date
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| Initial level: | 35,719.43 for Dow Jones Industrial Average, 16,325.66 for Nasdaq-100 index, 2,253.788 for Russell 2000 index
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| Downside threshold: | 25,003.601 for Dow Jones Industrial Average, 11,427.962 for Nasdaq-100 index, 1,577.652 for Russell 2000 index, 70% of initial levels
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| Pricing date: | Dec. 7
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| Settlement date: | Dec. 10
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875%
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| Cusip: | 61773HPX1
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