Published on 8/11/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $4 million callable contingent income securities on Meta, Paramount
New York, Aug. 11 – Morgan Stanley Finance LLC priced $4 million of callable contingent income securities due Aug. 8, 2024 linked to the stocks of Meta Platforms, Inc. and Paramount Global, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 33.4%, paid quarterly, if each underlying stock closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call date starting Feb. 9, 2023.
At maturity, the payout will be par unless the worst performing stock finishes below its 60% 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 and Paramount Global class B
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| Amount: | $4 million
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| Maturity: | Aug. 8, 2024
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| Coupon: | 33.4%, paid quarterly, if each underlying stock closes at or above its 70% coupon barrier 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 after six months
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| Initial levels: | $167.11 for Meta Platforms, $24.26 for Paramount Global
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| Downside thresholds: | $100.266 for Meta Platforms, $14.556 for Paramount Global, 60% of initial levels
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| Coupon barrier: | $116.977 for Meta Platforms, $16.982 for Paramount Global, 70% of initial levels
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| Strike date: | Aug. 5
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.3%
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| Cusip: | 61774DY50
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