Published on 6/3/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $575,000 trigger jump securities on index, ETF
By Kiku Steinfeld
Chicago, June 5 – Morgan Stanley Finance LLC priced $575,000 of 0% trigger jump securities due Jan. 27, 2028 linked to the S&P 500 Value index and iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing asset is positive, the payout at maturity will be par plus the greater of that asset's return and 56%. Investors will receive par if the worst performing asset declines but finishes at or above the 70% trigger level and will lose 1% for every 1% that the worst performing asset declines if it finishes below the trigger 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: | Trigger jump securities
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Underlying assets: | S&P 500 Value index and iShares Russell 2000 Value ETF
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Amount: | $575,000
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Maturity: | Jan. 27, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of worst performing asset is positive, par plus greater of return of worst performer and 56%; par if worst performing asset declines but finishes at or above trigger level; 1% loss for every 1% that worst performing asset declines if it finishes below trigger level
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Initial levels: | 1,508.67 for index, $147.88 for ETF
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Upside payment: | 56%
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Trigger levels: | 1,056.069 for index, $103.516 for ETF, 70% of initial levels
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Pricing date: | Jan. 24, 2023
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Settlement date: | Jan. 27, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.625%
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Cusip: | 61774TRS3
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