Published on 8/11/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.22 million callable contingent income notes on indexes
By Kiku Steinfeld
Chicago, Aug. 11 – Morgan Stanley Finance LLC sold $5.22 million of callable contingent income securities due Jan. 19, 2024 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.
The notes will pay a contingent quarterly coupon at the rate of 8.4% per year if each index closes at or above its coupon threshold level, 75% of its initial level, on each day of that period.
The notes will be callable at par on any quarterly observation date.
The payout at maturity will be par unless any index finishes below its 75% 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 with Morgan Stanley Wealth Management acting as a selected dealer.
| 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: | $5,217,000
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| Maturity: | Jan. 19, 2024
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| Coupon: | 8.4% per year, payable quarterly if each index closes at or above its coupon threshold level on each day of that period
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| Price: | Par
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| Call option: | At par on any quarterly observation date
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| 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
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| Initial levels: | 14,681.38 for Nasdaq, 2,163.238 for Russell, 4,327.16 for S&P
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| Coupon barrier levels: | 11,011.035 for Nasdaq, 1,622.429 for Russell, 3,245.37 for S&P; 75% of initial levels
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| Trigger levels: | 11,011.035 for Nasdaq, 1,622.429 for Russell, 3,245.37 for S&P; 75% of initial levels
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| Pricing date: | July 16
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| Settlement date: | July 21
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as selected dealer
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| Fees: | 1.875%
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| Cusip: | 61773FGJ6
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