Published on 9/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 7.5% callable contingent income notes on index, ETF
By Kiku Steinfeld
Chicago, Sept. 12 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income securities due Jan. 31, 2024 linked to S&P 500 index and Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.5%, paid quarterly, if each underlier closes at or above its 75% downside threshold on the related quarterly observation date.
The securities may be called starting July 29, 2022 at par on any quarterly call date if each asset closes at or above its initial level.
At maturity the payout will be par unless the worst performing asset closes below its 75% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | S&P 500 index and Financial Select Sector SPDR Fund
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| Amount: | $250,000
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| Maturity: | Jan. 31, 2024
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| Coupon: | 7.5%, paid quarterly, if each underlier closes at or above its 75% 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 asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
|
| Call option: | Starting July 29, 2022 at par on any quarterly call date if each asset closes at or above its initial level
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| Initial levels: | 4,349.93 for S&P, $38.57 for Financial
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| Downside thresholds: | 3,262.448 for S&P, $28.928 for Financial, 75% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61773HYA1
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