Published on 12/31/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $315,000 trigger PLUS linked to Nasdaq, Dow, Russell
By Kiku Steinfeld
Chicago, Dec. 31 – Morgan Stanley Finance LLC priced $315,000 of 0% trigger Performance Leveraged Upside Securities due Jan. 4, 2024 linked to the least performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus 115% of the least-performing index’s return.
If the final level of any index is less than or equal to its initial level but the final level of each index is greater than or equal to its trigger level, the payout will be par. For each index, the trigger level is 64.5% of its initial level.
If the final level of any index is less than its trigger level, investors will be exposed to the decline of the least-performing index from its initial level.
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 Performance Leveraged Upside Securities
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $315,000
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| Maturity: | Jan. 4, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 115% of least-performing index’s return; if final level of any index is less than or equal to initial level but final level of each index is greater than or equal to trigger level, par; if final level of any index is less than trigger level, exposure to decline of least-performing index from initial level
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| Initial levels: | 12,843.49 for Nasdaq, 30,335.67 for Dow, 1,959.363 for Russell
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| Trigger levels: | 8,284.051 for Nasdaq, 19,566.507 for Dow, 1,263.789 for Russell, 64.5% of initial levels
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| Pricing date: | Dec. 29
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| Settlement date: | Jan. 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771EUU0
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