Published on 5/2/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.08 million callable contingent income notes on three indexes
Chicago, May 3 – Morgan Stanley Finance LLC sold $1.08 million of callable contingent income securities due March 24, 2026 tied to the worst performing of the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Monthly, the notes will pay a contingent coupon at the rate of 8.6% 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 after six months.
The payout at maturity will be par unless any index finishes below its 60% 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
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| Issue: | Callable contingent income securities
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $1,080,000
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| Maturity: | March 24, 2026
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| Coupon: | 8.6% per year, payable monthly 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 after six months
|
| Payout at maturity: | Par 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: | 3,913.10 for S&P, 12,866.99 for Nasdaq, 2,287.545 for Russell
|
| Coupon barrier levels: | 2,739.17 for S&P, 9,006.893 for Nasdaq, 1,601.282 for Russell; 70% of initial levels
|
| Trigger levels: | 2,347.86 f or S&P, 7,720.194 for Nasdaq, 1,372.527 for Russell; 60% of initial levels
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| Pricing date: | March 19
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| Settlement date: | March 24
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61771VLD0
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