Published on 1/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $731,000 callable contingent income securities on index, fund
Chicago, Jan. 28 – Morgan Stanley Finance LLC priced $731,000 of callable contingent income securities due May 1, 2024 linked to the worst performing of the 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 8%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called starting Oct. 31, 2022 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 70% 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
|
| 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: | $731,000
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| Maturity: | May 1, 2024
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| Coupon: | 8% annual rate, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| 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: | Starting Oct. 31, 2022 at par on any quarterly call date at option of issuer
|
| Initial levels: | 4,175.20 for S&P, $35.32 for fund
|
| Downside thresholds: | 2,922.64 for S&P, $24.724 for fund, 70% of initial levels
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| Coupon barriers: | 3,131.40 for S&P, $26.49 for fund, 75% of initial levels
|
| 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: | 2.6%
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| Cusip: | 61773QA90
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