Published on 8/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $11.42 million 12.35% callable contingent income securities on Russell, iShares MSCI EAFE, S&P
New York, Aug. 12 – Morgan Stanley Finance LLC priced $11.42 million of callable contingent income securities due Feb. 12, 2027 linked to Russell 2000 index, iShares MSCI EAFE ETF and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive an annualized coupon of 12.35%, paid quarterly, if each underlier closes at or above its 80% coupon barrier on the related quarterly observation date.
The securities may be called starting May 12, 2023 at par on any quarterly call date.
At maturity the payout will be par unless the worst performing asset closes below its 60% 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: | Russell 2000 index, iShares MSCI EAFE ETF and S&P 500 index
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| Amount: | $11,422,000
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| Maturity: | Feb. 12, 2027
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| Coupon: | 12.35%, paid quarterly, if each underlier closes at or above its 80% 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 asset closes 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: | Starting May 12, 2023 at par on any quarterly call date
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| Initial levels: | $64.81 for iShares MSCI EAFE ETF, 1,912.891 for Russell 2000, 4,122.47 for S&P 500
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| Downside thresholds: | $38.886 for iShares MSCI EAFE ETF, 1,147.735 for Russell 2000, 2,473.482 for S&P 500, 60% of initial levels
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| Coupon barrier: | $51.848 for iShares MSCI EAFE ETF, 1,530.313 for Russell 2000 index, 3,297.976 for S&P 500 index, 80% of initial levels
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| Pricing date: | Aug. 9
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| Settlement date: | Aug. 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61774D2H9
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