Published on 12/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5 million commodity-linked partial principal at risk securities
By Kiku Steinfeld
Chicago, Dec. 19 – Morgan Stanley Finance LLC priced $5 million of 0% commodity-linked partial principal at risk securities due Oct. 24, 2023 linked to the performance of an equally-weighted basket of eight commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, natural gas futures, corn, soybeans, wheat, copper and zinc.
The payout at maturity will be par plus the basket return, subject to a maximum payout of par plus 25% and a minimum payout at 97.8% of par.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA is the placement agent
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Commodity-linked partial principal at risk securities
|
Underlying assets: | West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, natural gas, corn, soybeans, wheat, copper, zinc; equal weights
|
Amount: | $5 million
|
Maturity: | Oct. 24, 2023
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus basket return; capped at par plus 25%, floor at 97.8% of par
|
Initial prices: | $102.56 for WTI, $107.25 for Brent, $7.176 for natural gas, 804.00¢ for corn, 1,716.50¢ for soybeans, 1,099¢ for wheat, $10,381 for copper, $4,530 for zinc
|
Pricing date: | April 20
|
Settlement date: | April 25
|
Agent: | Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agent
|
Fees: | 0.75%
|
Cusip: | 61773QUX5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.