Published on 11/21/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $17 million 15.92% callable contingent notes on indexes, ETF
New York, Nov. 21 – Morgan Stanley Finance LLC priced $17 million of callable contingent income securities due May 20, 2027 linked to Russell 2000 index, iShares MSCI EAFE ETF and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 15.92%, paid quarterly, if each underlier closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities may be called starting Aug. 18, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 60% downside threshold in which case investors will be fully exposed to the decline of the worst performing asset.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying assets: | Russell 2000 index, iShares MSCI EAFE ETF and S&P 500 index
|
| Amount: | $16,999,000
|
| Maturity: | May 20, 2027
|
| Coupon: | 15.92%, paid quarterly, if each underlier closes at or above its 80% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the worst performing asset closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying asset
|
| Call: | Starting Aug. 18, 2023 at par on any quarterly call date
|
| Initial levels: | $65.20 for iShares MSCI EAFE ETF, 1,889.204 for Russell 2000, 3,991.73 for S&P 500
|
| Downside thresholds: | $39.12 for iShares MSCI EAFE ETF, 1,133.522 for Russell 2000, 2,395.038 for S&P 500, 60% of initial levels
|
| Coupon barriers: | $52.16 for iShares MSCI EAFE ETF, 1,511.363 for Russell 2000 index, 3,193.384 for S&P 500 index, 80% of initial levels
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 18
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2%
|
| Cusip: | 61774HN61
|
|
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
