Published on 1/9/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $8.31 million enhanced trigger jump securities on S&P, Dow
By William Gullotti
Buffalo, N.Y., Jan. 9 – Morgan Stanley Finance LLC priced $8.31 million of 0% enhanced trigger jump securities due Jan. 7, 2027 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 least performing index finishes at or above its upside threshold, 125.75% of initial level, the payout at maturity will be the greater of par plus 1.15 times the return of that index and par plus 25.75%
If the worst performing index finishes below the upside threshold but at or above the 70% downside threshold, the payout at maturity will be par plus 25.75%.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its initial 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: | Enhanced trigger jump securities
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| Underlying indexes: | S&P 500 index and Dow Jones industrial average
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| Amount: | $8,305,000
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| Maturity: | Jan. 7, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If least performing index finishes at or above upside threshold level, the greater of par plus 1.15 times the return of that index and par plus 25.75%; if worst performing index finishes below upside threshold but at or above downside threshold, par plus 25.75%; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Initial levels: | 33,269.77 for Dow, 3,852.97 for S&P
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| Upside thresholds: | 41,836.736 for Dow, 4,845.11 for S&P; 125.75% of initial level
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| Downside thresholds: | 23,288.839 for Dow, 2,697.079 for S&P; 70% of initial level
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| Pricing date: | Jan. 4
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| Settlement date: | Jan. 9
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
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| Cusip: | 61774TKT8
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