Published on 11/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.2 million dual directional buffered participation notes on indexes
By Kiku Steinfeld
Chicago, Nov. 14 – Morgan Stanley Finance LLC priced $1.2 million of 0% dual directional buffered participation securities due Dec. 14, 2023 linked to the Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index, 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 102% of the return of the worst performing index.
Investors will receive par plus the absolute return of the worst performing index if it declines but by no more than the 15% buffer and will be exposed to any decline in the worst performing index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Dual directional buffered participation securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1.2 million
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| Maturity: | Dec. 14, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing index is positive, par plus 102% of that index's return; par plus absolute return of worst performing index if it declines but by no more than 15%; exposure to loss of worst performing index beyond buffer
|
| Initial levels: | 32,944.19 for Dow, 13,301.83 for Nasdaq, 1,979.668 for Russell
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| Buffer levels: | 28,002.562 for Dow, 11,306.556 for Nasdaq, 1,682.718 for Russell, 85% of initial levels
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| Upside leverage: | 102%
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| Cap: | None
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| Absolute return: | 100%
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| Buffer: | 15%
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| Pricing date: | March 11
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| Settlement date: | March 16
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61773QKA6
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