Published on 9/15/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $146,893 call warrants linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Sept. 15 – Morgan Stanley Finance LLC priced 1,209 call warrants due Oct. 1, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notional amount is $1,000 per warrant. The issue price is $121.50 per warrant for a total premium amount of $146,893.50.
The warrants will be automatically exercised on the expiration date if the index finishes above the strike level, 107.5% of the initial index level, and the cash settlement amount will be the notional amount multiplied by the index strike percent change, which is equal to (a) the final index level minus the strike level divided by (b) the initial index level.
If the index is flat or falls, the warrants will expire worthless and the cash settlement amount will be zero.
The warrants are guaranteed by Morgan Stanley.
Rockefeller Financial LLC and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Call warrants
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| Underlying index: | S&P 500
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| Warrants: | 1,209
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| Notional amount: | $1,000 each, or $1,209,000 total
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| Price: | $121.50 per warrant, or $146,893.50 total
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| Maturity: | Oct. 1, 2024
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| Cash settlement date: | Oct. 4, 2024
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| Payout: | If index finishes above strike level, $1,000 multiplied by index strike percent change, which is equal to (a) final index level minus strike level divided by (b) initial index level; otherwise, nothing
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| Initial index level: | 3,979.87
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| Strike level: | 4,278.36; 107.5% of initial level
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| Strike date: | Sept. 7
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| Pricing date: | Sept. 12
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| Settlement date: | Sept. 15
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| Agents: | Rockefeller Financial LLC and Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61774E386
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