Published on 4/24/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $419,000 callable contingent income notes on Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, April 25 – Morgan Stanley Finance LLC priced $419,000 of callable contingent income securities due June 30, 2023 linked to Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.25%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called starting Dec. 30, 2021 at par on any quarterly call date.
At maturity the payout will be par unless any index has closed below its 70% downside threshold during the life of the notes and the worst performing index finishes below its initial level, 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: | $419,000
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| Maturity: | June 30, 2023
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| Coupon: | 8.25%, paid quarterly, if each underlying index 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 any index has closed below its downside threshold during the life of the notes and the worst performing index finishes below its initial level, in which case investors will be fully exposed to the decline in the worst performing underlying index
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| Call: | Starting Dec. 30, 2021 at par on any quarterly call date
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| Initial levels: | 34,869.37 for Dow, 15,204.83 for Nasdaq, 2,281.003 for Russell
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| Downside thresholds: | 24,408.559 for Dow, 10,643.381 for Nasdaq, 1,596.702 for Russell, 70% of initial levels
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| Pricing date: | Sept. 27, 2021
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| Settlement date: | Sept. 30, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61773FWE9
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