Published on 2/20/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $826,000 callable contingent income notes on S&P, Russell, Nasdaq
By Kiku Steinfeld
Chicago, Feb. 22 – Morgan Stanley Finance LLC priced $826,000 of callable contingent income securities due Sept. 9, 2026 linked to Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 5.3%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called starting March 8, 2022 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 60% 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $826,000
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Maturity: | Sept. 9, 2026
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Coupon: | 5.3%, paid quarterly, if each underlying index closes at or above its 60% 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 option: | Starting March 8, 2022 at par on any quarterly call date
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Initial levels: | 15,652.86 for Nasdaq, 2,292.048 for Russell, 4,535.43 for S&P
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Downside thresholds: | 9,391.716 for Nasdaq, 1,375.229 for Russell, 2,721.258 for S&P, 60% of initial levels
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Pricing date: | Sept. 3
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Settlement date: | Sept. 9
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61773FXF5
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