Published on 12/16/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $613,000 Trigger PLUS linked to S&P, Dow
By Kiku Steinfeld
Chicago, Dec. 16 – Morgan Stanley Finance LLC priced $613,000 of 0% Trigger PLUS due April 22, 2027 linked to the S&P 500 index and 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 109% 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 60% 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: | S&P 500 index and Dow Jones industrial average
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Amount: | $613,000
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Maturity: | April 22, 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 109% 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: | 34,411.69 for Dow, 4,391.69 for S&P
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Trigger level: | 20,647.014 for Dow, 2,635.014 for S&P, 60% of initial level
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Upside leverage: | 109%
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Cap: | None
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Pricing date: | April 18
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Settlement date: | April 21
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.625%
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Cusip: | 61773QN62
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