Published on 5/1/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 dual directional trigger participation notes on S&P, Dow
By Sarah Lizee
Olympia, Wash., May 1 – Morgan Stanley Finance LLC priced $250,000 of 0% dual directional trigger participation securities due April 27, 2023 linked to the S&P 500 index and the Dow Jones industrial average, 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 of $10 plus the index return.
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, Dow Jones industrial average
|
Amount: | $250,000
|
Maturity: | April 27, 2023
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | If the final level of each index is greater than the initial index level, par plus the index return; 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: | 2,836.74 for S&P, 23,775.27 for Dow
|
Trigger levels: | 1,985.718 for S&P, 16,642.689 for Dow; 70% of initial level
|
Pricing date: | April 24
|
Settlement date: | April 29
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 0.25%
|
Cusip: | 61770FL61
|
|
© 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.