Published on 12/16/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $798,000 9% callable contingent income securities on three indexes
By Kiku Steinfeld
Chicago, Dec. 16 – Morgan Stanley Finance LLC priced $798,000 of callable contingent income securities due April 22, 2024 linked to S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlying index closes at or above its 65% downside threshold on the related quarterly observation date.
The securities may be called starting Oct. 21, 2022 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing index closes below its 65% 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: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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Amount: | $798,000
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Maturity: | April 22, 2024
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Coupon: | 9%, paid quarterly, if each underlying index closes at or above its 65% 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 Oct. 21, 2022 at par on any quarterly call date
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Initial levels: | 13,910.76 for Nasdaq, 1,990.134 for Russell, 4,391.69 for S&P
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Downside threshold: | 9,041.994 for Nasdaq, 1,293.587 for Russell, 2,854.599 for S&P, 65% of initial levels
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Pricing date: | April 18
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Settlement date: | April 21
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.75%
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Cusip: | 61773QR76
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