Published on 5/3/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $13.28 million market-linked notes on commodities basket
By Wendy Van Sickle
Columbus, Ohio, May 3 – Morgan Stanley Finance LLC priced $13.28 million of 0% market-linked notes due Aug. 30, 2024 linked to a weighted basket of commodities and commodity futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley
The basket consists of the West Texas Intermediate light sweet crude oil futures, Brent crude oil futures, natural gas futures, corn futures, soybeans futures, wheat futures, the grade A copper spot price and the special high-grade zinc spot price, each with a 12.5% weight.
The payout at maturity will be par plus 1.3 times any basket gain. Otherwise, investors will receive par.
Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the underwriters.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Market-linked notes
|
| Underlying basket: | West Texas Intermediate light sweet crude oil futures, Brent crude oil futures, natural gas futures, corn futures, soybeans futures, wheat futures, grade A copper spot price and special high-grade zinc spot price, each with a 12.5% weight
|
| Amount: | $13,228,000
|
| Maturity: | Aug. 30, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.3 times any basket gain; otherwise, par
|
| Initial level: | $102.02 for WTI, $105.32 for Brent crude, $7.267 for natural gas, 812.25¢ for corn, 1,692.72¢ for soybeans, 1,692.72¢ for wheat, $9,910.00 for copper and $4,319.50 for zinc
|
| Pricing date: | April 27
|
| Settlement date: | April 29
|
| Underwriters: | Morgan Stanley & Co. LLC and UBS Financial Services Inc
|
| Fees: | 0%
|
| Cusip: | 61773QVB2
|
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