Published on 9/21/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million 13% callable contingent income notes on indexes
Chicago, Sept. 21 – Morgan Stanley Finance LLC priced $1 million of callable contingent income securities due Nov. 1, 2023 linked to the worst performing of the 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 13%, paid quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called starting May 2 at par on any quarterly call date.
At maturity the payout will be par if no index closes below its 60% downside threshold level at any point during the life of the notes. Otherwise, investors will be exposed to the return of the worst performer with a maximum payout of par.
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: | $1 million
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| Maturity: | Nov. 1, 2023
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| Coupon: | 13% annual rate, paid quarterly, if each underlying index closes at or above its 60% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par if no index closes below downside threshold at any point during the life of the notes; otherwise, full exposure to return of worst performer with a maximum payout of par
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| Call: | Starting May 2 at par on any quarterly call date at option of issuer
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| Initial levels: | 34,160.78 for Dow, 14,003.11 for Nasdaq, 1,931.288 for Russell
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| Downside threshold: | 20,496.468 for Dow, 8,401.866 for Nasdaq, 1,158.773 for Russell, 60% of initial levels
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| Pricing date: | Jan. 27
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| Settlement date: | Feb. 1
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61773HT66
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