Published on 6/10/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $10.81 million 7% trigger callable yield notes on S&P, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, June 10 – Morgan Stanley Finance LLC priced $10.81 million of 7% trigger callable yield notes due Sept. 13, 2023 linked to the S&P 500 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par unless the least-performing index finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the least-performing index from its initial level.
The notes are guaranteed by Morgan Stanley.
UBS Financial Services Inc. and Morgan Stanley & Co. Inc. are the agents.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Trigger callable yield notes
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Underlying indexes: | S&P 500 index, Nasdaq-100 index
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Amount: | $10,814,000
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Maturity: | Sept. 13, 2023
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Coupon: | 7% per year, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless least-performing index finishes below downside threshold, in which case 1% loss for each 1% decline of least-performing index from its initial level
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Call option: | At par on any monthly coupon date after three months
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Initial levels: | 4,115.77 for S&P, 12,615.13 for Nasdaq
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Downside thresholds: | 2,469.46 for S&P, 7,569.08 for Nasdaq; 60% of initial levels
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Pricing date: | June 8
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Settlement date: | June 13
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Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. Inc.
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Fees: | 1%
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Cusip: | 61774B259
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