Published on 9/17/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 contingent income securities on Nasdaq, Russell
By William Gullotti
Buffalo, N.Y., Sept. 17 – Morgan Stanley Finance LLC priced $250,000 of contingent income securities due June 29, 2023 tied to the worst performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at the rate of 5% per year if each index closes at or above its coupon barrier level, 75% of its initial level, on the observation date that period.
If all indexes finish at or above the downside threshold level, 75% of initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
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: | Contingent income securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index
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| Amount: | $250,000
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| Maturity: | June 29, 2023
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| Coupon: | 5% per year, payable monthly if each index closes at or above coupon barrier level on observation date that period
|
| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par plus final coupon; otherwise, full exposure to decline of lowest-performing index from its initial level
|
| Initial levels: | 14,345.18 for Nasdaq, 2,334.396 for Russell
|
| Coupon barriers: | 10,758.885 for Nasdaq, 1,750.797 for Russell; 75% of initial levels
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| Downside threshold levels: | 10,758.885 for Nasdaq, 1,750.797 for Russell; 75% of initial levels
|
| Pricing date: | June 25
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| Settlement date: | June 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.75%
|
| Cusip: | 61771V4B3
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