Published on 11/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million callable contingent income securities on four stocks
New York, Nov. 17 – Morgan Stanley Finance LLC priced $1 million of callable contingent income securities due Nov. 21, 2023 linked to stock performance of Meta Platforms, Inc., Walmart Inc., Philip Morris International Inc. and Coca-Cola Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 23%, paid quarterly, if each underlying stock closes at or above its 50% downside threshold on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting Feb. 21, 2023.
At maturity, the payout will be par unless the worst performing stock finishes below its 50% downside threshold, in which case investors will be fully exposed to the decline of the worst performing stock.
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 stocks: | Meta Platforms, Inc. class A, Walmart Inc., Philip Morris International Inc. and Coca-Cola Co.
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| Amount: | $1 million
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| Maturity: | Nov. 21, 2023
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| Coupon: | 23%, paid quarterly, if each underlying stock closes at or above its 50% 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 stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying stock
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| Call option: | At par on any quarterly call date starting Feb. 21, 2023
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| Initial levels: | $60.88 for Coca-Cola, $111.87 for Meta Platforms, $93.25 for Philip Morris International, $142.36 for common stock of Walmart
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| Downside thresholds: | $30.44 for Coca-Cola, $55.935 for Meta Platforms, $46.625 for Philip Morris International, $71.18 for common stock of Walmart, 50% of initial levels
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| Strike date: | Nov. 10
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| Pricing date: | Nov. 11
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| Settlement date: | Nov. 16
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.25%
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| Cusip: | 61774HU55
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