Published on 12/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 9.6% callable contingent income notes on three indexes
By Kiku Steinfeld
Chicago, Dec. 12 – Morgan Stanley Finance LLC priced $250,000 of callable contingent income securities due April 16, 2024 linked to MSCI EAFE index, 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 9.6%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.
The securities may be called starting July 14 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 70% 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: | MSCI EAFE index, Russell 2000 index and MSCI Emerging Markets index
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Amount: | $250,000
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Maturity: | April 16, 2024
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Coupon: | 9.6%, paid quarterly, if each underlying index closes at or above its 70% 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 July 14 at par on any quarterly call date
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Initial levels: | 2,126.86 for EAFE, 1,111.76 for Emerging Markets, 1,980.324 for Russell
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Downside threshold: | 1,488.802 for M EAFE, 778.232 for Emerging Markets, 1,386.227 for Russell, 70% of initial levels
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Pricing date: | April 11
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Settlement date: | April 14
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.75%
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Cusip: | 61773QG78
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