Published on 8/24/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million callable contingent income securities on indexes, ETF
New York, Aug. 24 – Morgan Stanley Finance LLC priced $1 million of callable contingent income securities due Nov. 24, 2023 linked to the Russell 2000 index, the VanEck Vectors Gold Miners ETF and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 21.3%, paid monthly, if each underlier closes at or above its 65% downside threshold on the related monthly observation date.
The securities may be called at par on any quarterly call date starting Feb. 24, 2023.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its downside threshold level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below 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
|
| Issue: | Callable contingent income securities
|
| Underlying assets: | Russell 2000 index, VanEck Vectors Gold Miners ETF and Nasdaq-100 index
|
| Amount: | $1 million
|
| Maturity: | Nov. 24, 2023
|
| Coupon: | 21.3%, paid monthly, if each underlier closes at or above its 65% downside threshold on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlier closes below its downside threshold level during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer finishes below its initial level
|
| Call option: | At par on any quarterly call date starting Feb. 24, 2023
|
| Initial levels: | $25.25 for VanEck Vectors Gold Miners ETF, 13,242.90 for Nasdaq-100, 1,957.346 for Russell 2000
|
| Downside thresholds: | $16.413 for VanEck Vectors Gold Miners ETF, 8,607.885 for Nasdaq-100, 1,272.275 for Russell 2000, 65% of initial levels
|
| Pricing date: | Aug. 19
|
| Settlement date: | Aug. 24
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
|
|
| Cusip: | 61774D3Y1
|
|
|
|
|
|
|
© 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.
