Published on 11/28/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.17 million dual directional buffered participation securities
New York, Nov. 28 – Morgan Stanley Finance LLC priced $1.17 million of 0% dual directional buffered participation securities due Aug. 5, 2024 linked to the S&P 500 index and the Dow Jones industrial average, 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 that index.
Investors will receive par plus absolute return of the worst performing index if it declines but by no more than 10% and will be exposed to any decline in the worst performing index beyond 10%.
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 buffered participation securities
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Underlying indexes: | S&P 500 index and Dow Jones industrial average
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Amount: | $1,165,000
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Maturity: | Aug. 5, 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 index is positive, par plus 102% of that index's return; par plus absolute return of worst performing index if it declines by no more than 10%; otherwise, 1% loss for every 1% decline of worst performing index beyond 10%
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Initial levels: | 32,732.95 for Dow Jones industrial average, 3,871.98 for S&P 500
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Upside leverage: | 102%
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Buffer: | 10%
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Pricing date: | Oct. 31
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Settlement date: | Nov. 3
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.4%
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Cusip: | 61774HME5
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