Published on 2/1/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.18 million callable contingent income notes on indexes
Chicago, Feb. 1 – Morgan Stanley Finance LLC priced $1.18 million of callable contingent income securities due April 11, 2024 tied to the worst performing of the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at the rate of 5.75% per year if each index closes at or above its coupon barrier level, 60% of its initial level, on the observation date that period.
The notes will be callable at par quarterly after six months.
If the lowest-performing index finishes at or above its downside threshold level, 60% of its initial level, the payout at maturity will be par. If the lowest-performing index finishes below its downside threshold level, investors will be fully exposed to the decline of the lowest-performing index from its initial level.
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: | $1,180,000
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Maturity: | April 11, 2024
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Coupon: | 5.75% per year, payable monthly if each index closes at or above coupon barrier level on observation date that period
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Price: | Par
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Payout at maturity: | If each index finishes at or above downside threshold level, par; if any index finishes below downside threshold level, full exposure to decline of lowest-performing index from its initial level
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Call option: | At par on any quarterly redemption date after six months
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Initial levels: | 13,578.46 for Nasdaq, 2,259.153 for Russell, 4,073.94 for S&P
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Coupon barriers: | 8,147.076 for Nasdaq, 1,355.492 for Russell, 2,444.364 for S&P; 60% of initial levels
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Downside threshold levels: | 8,147.076 for Nasdaq, 1,355.492 for Russell, 2,444.364 for S&P; 60% of initial levels
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Pricing date: | April 6
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Settlement date: | April 9
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.25%
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Cusip: | 61771VSZ4
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