Published on 11/22/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $707,000 dual directional trigger participation notes on three indexes
By William Gullotti
Buffalo, N.Y., Nov. 22 – Morgan Stanley Finance LLC priced $707,000 of 0% dual directional trigger participation securities due Aug. 11, 2026 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, 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 plus the laggard index return.
If either index declines by 34% 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 34%, 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
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional trigger participation securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $707,000
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| Maturity: | Aug. 11, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of each index is greater than the initial index level, par plus laggard index return; if either index declines by 34% or less, par plus the absolute value of the lesser performing index’s return; if either index declines by more than 34%, 1% loss for every 1% that the lesser performing index declines from its initial level
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| Initial levels: | 35,208.51 for Dow, 2,247.761 for Russell, 15,109.36 for Nasdaq
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| Trigger levels: | 23,237.617 for Dow, 1,483.522 for Russell, 9,972.178 for Nasdaq; 66% of initial levels
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| Pricing date: | Aug. 6
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| Settlement date: | Aug. 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61773FPF4
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