Published on 11/17/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.07 million dual directional trigger PLUS on S&P, Russell, Dow
New York, Nov. 17 – Morgan Stanley Finance LLC priced $2.07 million of 0% dual directional trigger PLUS due Oct. 31, 2028 linked to the S&P 500 index, Russell 2000 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 129% of the return of the worst performing index. Investors will receive a 0.5% gain for each 1% loss in the worst performing underlying index if that index declines but finishes above the 60% principal barrier, and they will lose 1% for every 1% decline if the worst performing index ends below its principal barrier.
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: | Dual directional trigger PLUS
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $2.07 million
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| Maturity: | Oct. 31, 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 asset is positive, par plus 129% of that index's return; 0.5% gain for each 1% loss if worst performing asset declines but ends above principal barrier; full exposure to loss if worst performing index ends below principal barrier
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| Initial levels: | 32,784.30 for Dow Jones industrial average, 1,657.003 for Russell 2000, 4,137.23 for S&P 500
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| Principal barriers: | 19,670.58 for Dow Jones industrial average, 994.202 for Russell 2000, 2,482.338 for S&P 500, 60% of initial levels
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| Upside leverage: | 129%
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| Cap: | None
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4%
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| Cusip: | 61775MCY0
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