Published on 10/15/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $729,000 callable contingent income notes on Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Oct. 15 – Morgan Stanley Finance LLC priced $729,000 of callable contingent income securities due July 26, 2024 tied to the Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a semiannual contingent coupon at the rate of 5.75% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period.
The notes will be callable at par semiannually.
If the lowest-performing index finishes at or above its downside threshold level, 70% of its initial level, the payout at maturity will be par plus any coupon due. If the lowest-performing index finishes below its downside threshold level, investors will be fully exposed to the decline of the lowest-performing index 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: | Callable contingent income securities
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| Underlying indexes: | Nasdaq-100 index, the Russell 2000 index and the Dow Jones industrial average
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| Amount: | $729,000
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| Maturity: | July 26, 2024
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| Coupon: | 5.75% per year, payable semiannually if each index closes at or above coupon barrier level on observation date that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold level, par; if any index finishes below downside threshold level, full exposure to decline of lowest-performing index from its initial level
|
| Call option: | At par on any observation date
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| Initial levels: | 15,111.79 for Nasdaq, 2,209.649 for Russell, 35,061.55 for Dow
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| Coupon barriers: | 10,578.253 for Nasdaq, 1,546.754 for Russell, 24,543.085 for Dow; 70% of initial levels
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| Downside threshold levels: | 10,578.253 for Nasdaq, 1,546.754 for Russell, 24,543.085 for Dow; 70% of initial levels
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| Pricing date: | July 23
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| Settlement date: | July 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 61773FDS9
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