Published on 7/22/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.75 million dual directional trigger participation notes on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, July 22 – Morgan Stanley Finance LLC priced $2.75 million of 0% dual directional trigger participation securities due May 30, 2025 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final level of each index is greater than the initial index level, the payout at maturity will be par plus the laggard index return up to 38%.
If either index declines by 30% or less, the payout will be par plus the absolute value of the lesser performing index’s return.
If either index declines by more than 30%, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger participation securities
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $2.75 million
|
| Maturity: | May 30, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final level of each index is greater than the initial index level, par plus laggard index return up to 38%; if either index declines by 30% or less, par plus the absolute value of the lesser performing index’s return; if either index declines by more than 30%, 1% loss for every 1% that the lesser performing index declines from its initial level
|
| Initial levels: | 4,200.88 for S&P, 2,273.073 for Russell
|
| Trigger levels: | 2,940.616 for S&P, 1,591.151 for Russell; 70% of initial level
|
| Pricing date: | May 27
|
| Settlement date: | June 2
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61771VYH7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
