Published on 10/28/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.81 million callable contingent income securities on ETFs, index
New York, Oct. 28 – Morgan Stanley Finance LLC priced $1.81 million of callable contingent income securities due Oct. 24, 2024 linked to the iShares Expanded Tech-Software Sector ETF, the VanEck Vectors Semiconductor ETF and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, paid quarterly, if each underlier closes at or above its 58% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date.
At maturity, the payout will be par unless the worst performing asset finishes below its 58% downside threshold, in which case investors will be fully exposed to the decline of the worst performing asset.
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 assets: | iShares Expanded Tech-Software Sector ETF, VanEck Vectors Semiconductor ETF and S&P 500 index
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| Amount: | $1,811,000
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| Maturity: | Oct. 24, 2024
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| Coupon: | 15%, paid quarterly, if each underlier closes at or above its 58% 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 asset finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying asset
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| Call option: | At par on any quarterly call date
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| Initial levels: | $258.88 for iShares Expanded Tech-Software Sector ETF, $186.35 for VanEck Vectors Semiconductor ETF, 3,752.75 for S&P 500
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| Downside thresholds: | $150.150 for iShares Expanded Tech-Software Sector ETF, $108.083 for VanEck Vectors Semiconductor ETF, 2,176.595 for S&P 500, 58% of initial levels
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| Pricing date: | Oct. 21
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| Settlement date: | Oct. 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.75%
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| Cusip: | 61774HTR9
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