Published on 9/18/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.81 million callable contingent income notes on three indexes
By Kiku Steinfeld
Chicago, Sept. 19 – Morgan Stanley Finance LLC priced $1.81 million of callable contingent income securities due Aug. 2, 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 15.75%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly 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 initial level and ever closes below its 60% downside threshold 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
|
| 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: | $1,806,000
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| Maturity: | Aug. 2, 2023
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| Coupon: | 15.75%, paid monthly, if each underlying index closes at or above its 80% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing index closes below its initial level and ever closes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying index
|
| Call option: | At par on any quarterly call date
|
| Initial levels: | 34,725.47 for Dow, 14,454.61 for Nasdaq, 1,968.508 for Russell
|
| Downside threshold: | 20,835.282 for Dow, 8,672.766 for Nasdaq, 1,181.105 for Russell, 60% of initial levels
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| Coupon barriers: | 27,780.376 for Dow, 11,563.688 for Nasdaq, 1,574.806 for Russell, 80% of initial levels
|
| Pricing date: | Jan. 28
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| Settlement date: | Feb. 2
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.375%
|
| Cusip: | 61773HT74
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