Published on 7/1/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6.45 million trigger step securities on index basket
By Wendy Van Sickle
Columbus, Ohio, July 1 – Morgan Stanley Finance LLC priced $6.45 million 0% trigger step securities due June 30, 2027 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the Nikkei 225 index with an initial weight of 25%, the FTSE 100 index with a 17.5% weight, the Swiss Market index with an initial weight of 10% and the S&P/ASX 200 index with an initial weight of 7.5%.
If the basket return is zero or positive, the payout at maturity will be par of $10 plus the greater of the basket return and the step return of 62%.
Investors will receive par if the basket declines by 25% or less and will lose 1% for each 1% decline from its initial level if the basket falls more than 25%.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger step securities
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| Underlying indexes: | Euro Stoxx 50 (40% weight), Nikkei Stock (25% weight), FTSE 100 (17.5% weight), Swiss Market (10% weight), S&P/ASX 200 (7.5% weight)
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| Amount: | $6,454,020
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| Maturity: | June 30, 2027
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the basket return is zero or positive, par plus the greater of the basket return and the step return of 62%; par if the basket declines by 25% or less; otherwise, 1% loss for each 1% decline from its initial level if the basket falls more than 25%
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| Initial index level: | 3,549.29 for Stoxx, 27,049.47 for Nikkei, 7,323.41 for FTSE, 10,809.57 for Swiss, 6,763.641 for S&P/ASX
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| Pricing date: | June 28
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| Settlement date: | June 30
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| Agent: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61774B424
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