Published on 6/15/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.47 million callable contingent income buffered notes on ETF, Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, June 15 – Morgan Stanley Finance LLC priced $1.47 million of callable contingent income buffered securities due June 13, 2025 linked to the least performing of the iShares MSCI Emerging Markets ETF, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes will pay a contingent coupon at the rate of 10.65% per year if each asset closes at or above its coupon barrier level, 75% of its initial level, on the observation date that month.
The notes will be callable at par on any quarterly call date.
If each asset finishes at or above its buffer level, 70% of its initial level, the payout at maturity will be par.
If any asset finishes below its buffer level, investors will lose 1.4286% for every 1% decline of the lesser performing asset beyond 30%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income buffered securities
|
| Underlying assets: | Euro Stoxx 50, iShares MSCI Emerging Markets ETF, Russell 2000 index
|
| Amount: | $1,469,000
|
| Maturity: | June 13, 2025
|
| Coupon: | 10.65% per year, payable monthly if each asset closes at or above coupon barrier level on observation date that month
|
| Price: | Par
|
| Payout at maturity: | Par if each asset finishes at or above buffer level; if any asset finishes below buffer level, investors will lose 1.4286% for every 1% decline of the lesser performing asset beyond 30%
|
| Call option: | At par on any quarterly call date
|
| Initial levels: | 1,800.284 for Russell, 3,599.2 for Stoxx, $41.13 for ETF
|
| Coupon barriers: | 1,350.213 for Russell, 2,699.4 for Stoxx, $30.848 for ETF; 75% of initial levels
|
| Buffer levels: | 1,260.199 for Russell, 2,519.44 for Stoxx, $28.791 for ETF; 70% of initial levels
|
| Pricing date: | June 10
|
| Settlement date: | June 15
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.05%
|
| Cusip: | 61773QDD8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
