Published on 6/22/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1 million dual directional buffered PLUS on three indexes
By William Gullotti
Buffalo, N.Y., June 22 – Morgan Stanley Finance LLC priced $1 million of 0% dual directional buffered Performance Leveraged Upside Securities due June 17, 2027 linked to the performance of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 140% of the gain of the least performing index.
If the worst performer declines by up to 20%, the payout will be par plus the absolute value of the return of the worst performing index. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional buffered Performance Leveraged Upside Securities
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average, Russell 2000 index
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| Amount: | $1 million
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| Maturity: | June 17, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 140% of the lesser-performing index return; if worst performing index falls by up to buffer level, par plus absolute value of the return of that index; otherwise, lose 1% for every 1% decline of the worst performer below buffer
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| Initial levels: | 3,749.63 for S&P, 30,516.74 for Dow, 1,714.595 for Russell
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| Buffer levels: | 2,999.704 for S&P, 24,413.392 for Dow, 1,371.676 for Russell; 80% of initial levels
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| Strike date: | June 13
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| Pricing date: | June 15
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| Settlement date: | June 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61774DQB6
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