Published on 1/11/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $332,000 Buffered PLUS linked to Dow, S&P, Russell
By Kiku Steinfeld
Chicago, Jan. 11 – Morgan Stanley Finance LLC priced $332,000 of 0% Buffered PLUS due April 28, 2028 linked to the Dow Jones industrial average, S&P 500 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 117% of the worst performing index return. Investors will receive par if the worst performing index declines by 30% or less and will lose 1% for every 1% that it declines beyond 30%.
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: | Buffered PLUS
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Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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Amount: | $332,000
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Maturity: | April 28, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus 117% of worst performing index return; par if worst performing index declines by 30% or less; 1% loss for every 1% that worst performing index declines beyond 30%
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Initial levels: | 33,530.83 for Dow, 1,745.952 for Russell, 4,071.63 for S&P
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Buffer: | 30%
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Buffer levels: | 23,471.581 for Dow, 1,222.166 for Russell, 2,850.141 for S&P, 70% of initial level
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Upside leverage: | 117%
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Cap: | None
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Pricing date: | April 25, 2023
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Settlement date: | April 28, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.625%
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Cusip: | 61774XKA0
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