Published on 11/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.59 million dual directional trigger PLUS linked to Dow, S&P
By Kiku Steinfeld
Chicago, Nov. 14 – Morgan Stanley Finance LLC priced $1.59 million of 0% dual directional trigger PLUS due Sept. 16, 2024 linked to the Dow Jones industrial average and S&P 500 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 125% of the return of the worst performing index subject to a maximum return of par plus 26.75%. Investors will receive par plus the absolute return of the worst performing index if that index declines but finishes above the 70% principal barrier and they will lose 1% for every 1% decline if the worst performing index ends below its principal barrier.
The notes are guaranteed by Morgan Stanley.
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 PLUS
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| Underlying indexes: | Dow Jones industrial average and S&P 500 index
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| Amount: | $1,586,000
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| Maturity: | Sept. 16, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing asset is positive, par plus 125% of that index's return subject to a maximum return of par plus 26.75%; par plus the absolute return of the worst performing index if it declines but ends above principal barrier; full exposure to loss if worst performing index ends below principal barrier
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| Initial levels: | 32,944.19 for Dow, 4,204.31 for S&P
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| Principal barrier: | 23,060.933 for Dow, 2,943.017 for S&P, 70% of initial level
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| Upside leverage: | 125%
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| Cap: | 26.75%
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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: | 61773QMP1
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