Published on 9/9/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 7.25% callable contingent income notes on indexes
By Kiku Steinfeld
Chicago, Sept. 9 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income securities due Oct. 30, 2025 linked to Dow Jones industrial average, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.25%, paid quarterly, if each underlying index closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities may be called starting July 29, 2022 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $250,000
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| Maturity: | Oct. 30, 2025
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| Coupon: | 7.25%, paid quarterly, if each underlying index closes at or above its 80% 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: | Starting July 29, 2022 at par on any quarterly call date
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| Initial levels: | 34,168.09 for Dow, 1,976.464 for Russell, 4,349.93 for S&P
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| Downside thresholds: | 23,917.663 for Dow, 1,383.525 for Russell, 3,044.951 for S&P, 70% of initial levels
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| Coupon barriers: | 27,334.472 for Dow, 1,581.171 for Russell, 3,479.944 for S&P, 80% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61773HYR4
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