Published on 2/1/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million 13.5% worst-of fixed-coupon RevCons on three stocks
Chicago, Feb. 1 – Morgan Stanley Finance LLC priced $1 million of 13.5% worst-of fixed-coupon RevCons due April 12, 2023 linked to the worst performing of the stocks of Apple Inc., Walt Disney Co. and Peloton Interactive, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
If each stock finishes at or above the 60% downside threshold level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the least performing stock.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Worst-of fixed-coupon RevCons
|
| Underlying stocks: | Apple Inc., Walt Disney Co. and Peloton Interactive, Inc.
|
| Amount: | $1,000,000
|
| Maturity: | April 12, 2023
|
| Coupon: | 13.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above downside threshold level, par plus the final coupon; otherwise, investors will be fully exposed to the decline of the least performing stock
|
| Initial share prices: | $125.90 for Apple, $188.50 for Disney, $109.09 for Peloton
|
| Downside threshold levels: | $75.54 for Apple, $113.10 for Disney, $65.454 for Peloton; 60% of initial levels
|
| Pricing date: | April 6
|
| Settlement date: | April 9
|
| Underwriter: | Morgan Stanley & Co. LLC
|
| Fees: | 0.4%
|
| Cusip: | 61771VTC4
|
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