Published on 3/29/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.66 million trigger PLUS linked to weighted index, ETF basket
By William Gullotti
Buffalo, N.Y., March 29 – Morgan Stanley Finance LLC priced $1.66 million of 0% trigger Performance Leveraged Upside Securities due March 30, 2027 linked to a weighted basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the iShares MSCI EAFE ETF with a 35% weight, the iShares MSCI Emerging Markets ETF with a 10% weight and the S&P 500 index with a 55% weight.
The notes are guaranteed by Morgan Stanley.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 120% of the basket return.
If the basket declines by 30% or less, the payout will be par. If the basket declines by more than 30%, investors will lose 1% for every 1% that the basket declines from its initial level.
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 Performance Leveraged Upside Securities
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| Underlying assets: | iShares MSCI EAFE ETF (35% weight), iShares MSCI Emerging Markets ETF (10% weight), S&P 500 index (55% weight)
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| Amount: | $1,657,000
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| Maturity: | March 30, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final basket level is greater than initial level, par plus 120% of basket return; if final basket level is less than initial basket level but greater than or equal to trigger level, par; if final basket level is less than trigger level, 1% loss for every 1% that basket declines from initial level
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| Initial index levels: | $73.72 for EAFE ETF, $45.41 for EM ETF, 4,520.16 for S&P
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| Trigger level: | 70% of initial level
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| Pricing date: | March 24
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| Settlement date: | March 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773QTJ8
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