Published on 11/21/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.13 million Trigger PLUS linked to Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, Nov. 21 – Morgan Stanley Finance LLC priced $1.13 million of 0% Trigger PLUS due March 23, 2027 linked to the Dow Jones industrial average, Russell 2000 index and Nasdaq-100 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 180% of the return of the worst performing index. Investors will receive par if the return of the worst performing index is negative but ends at or above the 70% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
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: | Trigger PLUS
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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Amount: | $1.13 million
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Maturity: | March 23, 2027
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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 180% of the gain of the worst performing index; par if worst performing index declines but finishes at or above trigger level; 1% loss for every 1% decline if worst performing index finishes below trigger level
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Initial levels: | 34,754.93 for Dow, 14,420.08 for Nasdaq, 2,086.143 for Russell
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Trigger level: | 24,328.451 for Dow, 10,094.056 for Nasdaq, 1,460.300 for Russell, 70% of initial level
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Upside leverage: | 180%
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Cap: | None
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Pricing date: | March 18
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Settlement date: | March 23
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.625%
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Cusip: | 61773QPT0
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