Published on 10/23/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $336,000 dual directional buffered participation notes on indexes
By Kiku Steinfeld
Chicago, Oct. 23 – Morgan Stanley Finance LLC priced $336,000 of 0% dual directional buffered participation securities due Oct. 3, 2024 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing index is positive, the payout at maturity will be par plus 100% of the return of the worst performing index subject to a maximum return of par plus 24.5%.
Investors will receive par plus 100% of absolute return of the worst performing index if it declines but by no more than the 20% buffer and will be exposed to any decline in the worst performing index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Dual directional buffered participation securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $336,000
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| Maturity: | Oct. 3, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing index is positive, par plus 100% of that index's return subject to a maximum return of par plus 24.5%; par plus 100% of absolute return of worst performing index if it declines but by no more than 20%; exposure to loss of worst performing index beyond buffer
|
| Initial levels: | 32,394.25 for Dow, 12,610.57 for Nasdaq, 1,752.632 for Russell
|
| Upside leverage: | 100%
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| Cap: | 24.5%
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| Absolute return: | 100%
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| Buffer levels: | 25,915.40 for Dow, 10,088.456 for Nasdaq, 1,402.106 for Russell, 80% of initial levels
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| Pricing date: | March 28, 2023
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| Settlement date: | March 31, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.375%
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| Cusip: | 61774XCC5
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