Published on 2/5/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.09 million callable contingent income securities on indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – Morgan Stanley Finance LLC sold $5.09 million of callable contingent income securities due Feb. 2, 2023 tied to the least performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 12% per year if each index closes at or above its coupon threshold level, 70% of its initial level, on the related determination date.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par plus any coupon due unless any index finishes below its 70% downside threshold, in which case investors will be fully exposed to the performance of the least-performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $5,086,000
|
| Maturity: | Feb. 2, 2023
|
| Coupon: | 12% per year, payable each quarter if each index closes at or above its coupon threshold level on the related determination date
|
| Price: | Par
|
| Call option: | At par on any quarterly observation date
|
| Payout at maturity: | Par plus any coupon due unless any index finishes below its downside threshold, in which case investors will be fully exposed to the performance of the least-performing index
|
| Initial levels: | 3,714.24 for S&P 500, 2,073.641 for Russell and 12,925.38 for Nasdaq
|
| Coupon barrier levels: | 2,599.968 for S&P 500, 1,451.549 for Russell and 9,047.766 for Nasdaq; 70% of initial levels
|
| Downside threshold levels: | 2,599.968 for S&P 500, 1,451.549 for Russell and 9,047.766 for Nasdaq; 70% of initial levels
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61771EV62
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
