Published on 3/2/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $379,000 dual directional buffered jump notes on Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, March 2 – Morgan Stanley Finance LLC priced $379,000 of 0% dual directional buffered jump securities due Feb. 28, 2025 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the return of the lesser performing index and 15%.
If either index falls by up to 20%, the payout will be par plus the absolute value of the lesser performing index’s return.
Otherwise, investors will lose 1% for each 1% decline of the lesser performing index 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 jump securities
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| Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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| Amount: | $379,000
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| Maturity: | Feb. 28, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above its initial level, par plus the greater of the return of the lesser performing index and 15%; if either index falls by up to buffer, par plus the absolute value of the lesser performing index’s return; otherwise, 1% loss for each 1% decline of the lesser performing index beyond buffer
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| Initial index levels: | 27,081.36 for Dow, 1,571.897 for Russell
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| Barrier levels: | 21,665.088 for Dow, 1,257.518 for Russell, 80% of initial level
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 61770FFR2
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