Published on 11/1/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.23 million contingent income buffered securities on Russell, S&P
By William Gullotti
Buffalo, N.Y., Nov. 1 – Morgan Stanley Finance LLC priced $1.23 million of contingent income buffered securities due Sept. 25, 2025 tied to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at the rate of 8.5% per year if each index closes at or above its coupon barrier level, 80% of its initial level, on the observation date that period.
If all indexes finish at or above the buffer level, 80% of the initial level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 20%.
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: | Contingent income buffered securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $1,225,000
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| Maturity: | Sept. 25, 2025
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| Coupon: | 8.5% per year, payable quarterly if each index closes at or above coupon barrier level on observation date that period
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above buffer level, par plus final coupon; otherwise, lose 1% for every 1% decline of the worst performer beyond 20%
|
| Initial levels: | 1,722.31 for Russell, 3,757.99 for S&P
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| Coupon barriers: | 1,377.848 for Russell, 3,006.392 for S&P; 80% of initial levels
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| Buffer levels: | 1,377.848 for Russell, 3,006.392 for S&P; 80% of initial levels
|
| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 61774HCF3
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