Published on 12/18/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.69 million callable contingent income securities on three indexes
By Kiku Steinfeld
Chicago, Dec. 20 – Morgan Stanley Finance LLC priced $1.69 million of callable contingent income securities due May 31, 2023 linked 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.
Investors will receive a coupon of 7%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 60% downside threshold, in which case investors will be fully exposed to the decline of that index.
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 indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1.69 million
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| Maturity: | May 31, 2023
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| Coupon: | 7%, paid quarterly, if each underlying index closes at or above its coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying index
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| Call option: | At par on any quarterly call date
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| Initial level: | 35,405.50 for Dow, 15,368.92 for Nasdaq, 2,239.269 for Russell
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| Coupon barriers: | 24,783.85 for Dow, 10,758.244 for Nasdaq, 1,567.488 for Russell, 70% of initial levels
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| Downside thresholds: | 21,343.30 for Dow, 9,221.352 for Nasdaq, 1,343.561 for Russell, 60% of initial levels
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| Pricing date: | Aug. 25
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| Settlement date: | Aug. 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61773FTF0
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