Published on 11/30/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.21 million 9% callable contingent income securities on Russell, Regional Banking ETF, Dow
New York, Nov. 30 – Morgan Stanley Finance LLC priced $2.21 million of callable contingent income securities due Nov. 24, 2023 linked to Russell 2000 Index, SPDR S&P Regional Banking ETF and Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlier closes at or above its downside threshold on the related quarterly observation date.
The securities may be called starting Feb. 25, 2022 on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 70% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| 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 assets: | Russell 2000 Index, SPDR S&P Regional Banking ETF and Dow Jones Industrial Average
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| Amount: | $2,209,000
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| Maturity: | Nov. 24, 2023
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| Coupon: | 9%, paid quarterly, if each underlier closes at or above its downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
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| Call: | Starting Feb. 25, 2022 on any quarterly call date
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| Initial levels: | 35,601.98 for Dow, $73.48 for SPDR S&P Regional Banking ETF, 2,343.161 for Russell
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| Downside thresholds: | 24,921.386 for Dow, $51.436 for SPDR S&P Regional Banking ETF, 1,640.213 for Russell, 70% of initial levels
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| Pricing date: | Nov. 19
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| Settlement date: | Nov. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61773HHZ5
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