Published on 9/26/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.84 million 11.05% callable contingent income securities on Dow, Russell, S&P
New York, Sept. 26 – Morgan Stanley Finance LLC priced $2.84 million of callable contingent income securities due Sept. 25, 2024 linked to the 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 an annualized coupon of 11.05%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting March 23, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 60% 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: | $2,835,000
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| Maturity: | Sept. 25, 2024
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| Coupon: | 11.05%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly 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: | Starting March 23, 2023 at par on any quarterly call date
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| Initial levels: | 30,706.23 for Dow Jones industrial average, 1,787.504 for Russell 2000, 3,855.93 for S&P 500
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| Downside threshold: | 18,423.738 for Dow Jones industrial average, 1,072.502 for Russell 2000, 2,313.558 for S&P 500, 60% of initial levels
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| Coupon barriers: | 21,494.361 for Dow Jones industrial average, 1,251.253 for Russell 2000 index, 2,699.151 for S&P 500 index, 70% of initial levels
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| Pricing date: | Sept. 20
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| Settlement date: | Sept. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61774HCC0
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