Published on 6/3/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.62 million callable contingent income securities on three indexes
New York, June 3 – Morgan Stanley Finance LLC priced $1.62 million of callable contingent income securities due March 2, 2026 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 9.25%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called starting Nov. 30, 2022 at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing index finishes below its 70% downside threshold, in which case investors will be fully exposed to the decline of that index.
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: | $1,617,000
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Maturity: | March 2, 2026
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Coupon: | 9.25%, paid quarterly, if each underlying index closes at or above its 70% 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 finishes 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 Nov. 30, 2022 at par on any quarterly call date
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Initial levels: | 32,120.28 for Dow Jones industrial average, 11,943.93 for Nasdaq-100, 1,799.164 for Russell 2000
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Downside threshold: | 22,484.196 for Dow Jones industrial average, 8,360.751 for Nasdaq-100, 1,259.415 for Russell 2000, 70% of initial levels
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Pricing date: | May 25
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Settlement date: | May 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.35%
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Cusip: | 61773Q4Q9
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