Published on 10/22/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $520,000 12.5% callable contingent income notes on two indexes
By Kiku Steinfeld
Chicago, Oct. 24 – Morgan Stanley Finance LLC priced $520,000 of callable contingent income securities due Feb. 23, 2024 linked to Russell 2000 index and MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid quarterly, if each underlying index closes at or above its 80% downside threshold on the related quarterly 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 80% 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: | Russell 2000 index and MSCI Emerging Markets index
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| Amount: | $520,000
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| Maturity: | Feb. 23, 2024
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| Coupon: | 12.5%, paid quarterly, if each underlying index closes at or above its 80% 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: | At par on any quarterly call date
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| Initial levels: | 1,231.77 for MSCI, 2,009.333 for Russell
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| Downside threshold: | 985.416 for MSCI, 1,607.466 for Russell, 80% of initial levels
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61773QBV0
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