Published on 11/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.06 million 23.5% contingent income notes on stocks
Chicago, Nov. 17 – Morgan Stanley Finance LLC priced $1.06 million of contingent income securities due March 7, 2024 linked to the worst performing of the common stocks of DocuSign, Inc., Microsoft Corp. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 23.5%, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
If the worst performing stock gains or ends above its downside threshold the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing stock declines if it finishes below its downside threshold level.
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: | Contingent income securities
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| Underlying stocks: | DocuSign, Inc., Microsoft Corp. and Nvidia Corp.
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| Amount: | $1,055,000
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| Maturity: | March 7, 2024
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| Coupon: | 23.5% annual rate, paid monthly, if each underlying stock closes at or above its 70% downside threshold on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | If worst performing stock finishes at or above its downside threshold level, par; 1% loss for every 1% that worst performing stock declines if it finishes below its downside threshold level
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| Initial level: | $114.40 for DocuSign, $300.19 for Microsoft, $242.20 for Nvidia
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| Downside threshold: | $80.08 for DocuSign, $210.133 for Microsoft, $169.54 for Nvidia, 70% of initial levels
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| Pricing date: | March 3
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| Settlement date: | March 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.4%
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| Cusip: | 61773QLP2
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