Published on 1/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 9% callable contingent income securities on indexes
Chicago, Jan. 28 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income securities due Oct. 31, 2024 linked to the worst performing of the S&P 500 index, Euro Stoxx 50 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, 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 Oct. 31, 2022 at par on any quarterly call date at the option of the issuer.
At maturity the payout will be par unless the worst performing index closes 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: | S&P 500 index, Euro Stoxx 50 index and Dow Jones industrial average
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Amount: | $250,000
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Maturity: | Oct. 31, 2024
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Coupon: | 9% annual rate, 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 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 Oct. 31, 2022 at par on any quarterly call date at option of issuer
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Initial levels: | 33,240.18 for Dow, 4,175.20 for S&P, 3,721.36 for Stoxx
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Downside threshold levels: | 23,268.126 for Dow, 2,922.64 for S&P, 2,604.952 for Stoxx, 70% of initial levels
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Pricing date: | April 26, 2022
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Settlement date: | April 29, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.25%
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Cusip: | 61773QB32
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