Published on 6/27/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $833,000 trigger jump notes on three indexes
By Kiku Steinfeld
Chicago, June 27 – Morgan Stanley Finance LLC priced $833,000 of 0% trigger jump securities due Feb. 4, 2028 linked to the Nasdaq-100 index, S&P 500 index and Dow Jones industrial average, 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 the greater of that index's return and 63%. Investors will receive par if the worst performing index declines but finishes at or above the 80% trigger level and will lose 1% for every 1% that the worst performing index declines if it finishes below the trigger level.
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: | Trigger jump securities
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Underlying indexes: | Nasdaq-100 index, S&P 500 index and Dow Jones industrial average
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Amount: | $833,000
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Maturity: | Feb. 4, 2028
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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 greater of return of worst performer and 63%; par if worst performing index declines but finishes at or above trigger level; 1% loss for every 1% that worst performing index declines if it finishes below trigger level
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Initial levels: | 34,092.96 for Dow, 12,363.10 for Nasdaq, 4,119.21 for S&P
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Upside payment: | 63%
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Triggers: | 27,274.368 for Dow, 9,890.48 for Nasdaq, 3,295.368 for S&P, 80% of initial levels
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Pricing date: | Feb. 1, 2023
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Settlement date: | Feb. 6, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.5%
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Cusip: | 61774TMQ2
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