Published on 9/29/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $20 million 17.1% callable contingent income securities tied to indexes
New York, Sept. 29 – Morgan Stanley Finance LLC priced $20 million of callable contingent income securities due March 31, 2025 linked to the S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 17.1%, paid quarterly, if each underlying index closes at or above its 75% downside threshold on the related quarterly observation date.
The securities may be called starting March 30, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 75% 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: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $20 million
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| Maturity: | March 31, 2025
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| Coupon: | 17.1%, paid quarterly, if each underlying index closes at or above its 75% downside threshold 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: | Starting March 30, 2023 at par on any quarterly call date
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| Initial levels: | 11,254.11 for Nasdaq-100, 1,655.882 for Russell 2000, 3,655.04 for S&P 500
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| Downside threshold: | 8,440.583 for Nasdaq-100, 1,241.912 for Russell 2000, 2,741.28 for S&P 500, 75% of initial levels
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| Pricing date: | Sept. 26
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| Settlement date: | Sept. 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.875% including a structuring fee of 0.375%
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| Cusip: | 61774HJX7
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