Published on 6/23/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $665,000 4% callable contingent income securities linked to S&P 500
By Kiku Steinfeld
Chicago, June 23 – Morgan Stanley Finance LLC priced $665,000 of callable contingent income securities due Dec. 14, 2023 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 4%, paid quarterly, if the underlying index closes at or above its 60% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting June 15, 2022.
At maturity the payout will be par unless the underlying index closes below its 60% downside threshold, in which case investors will be fully exposed to the decline of the 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 index: | S&P 500 index
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Amount: | $665,000
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Maturity: | Dec. 14, 2023
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Coupon: | 4%, paid quarterly, if the underlying index closes at or above its 60% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the index closes below its downside threshold level, in which case investors will be fully exposed to the decline in the underlying index
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Call: | At par on any quarterly call date starting June 15, 2022
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Initial level: | 4,712.02
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Downside threshold: | 2,827.212, 60% of initial level
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Pricing date: | Dec. 10, 2021
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Settlement date: | Dec. 15, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61773HTH2
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