Published on 3/1/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.24 million dual directional trigger PLUS on S&P, Russell, Dow
New York, March 1 – Morgan Stanley Finance LLC priced $3.24 million of 0% dual directional trigger PLUS due Feb. 28, 2028 linked to the S&P 500 index, the Russell 2000 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 128% of the return of that index.
If the worst performing index declines but finishes at or above the 60% principal barrier, the payout at maturity will be par plus 0.5 times the absolute value of that index’s return.
Otherwise, investors will lose 1% for every 1% decline of the worst performing index 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: | Dual directional trigger PLUS
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $3,243,000
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| Maturity: | Feb. 28, 2028
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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 128% of that index's return; if worst performing index declines but ends at or above principal barrier, par plus 50% of the absolute value of that index’s return; otherwise, 1% loss for every 1% decline of worst performing index from initial level
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| Initial levels: | 33,153.91 for Dow Jones industrial average, 1,908.093 for Russell 2000, 4,012.32 for S&P 500
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| Principal barrier: | 19,892.346 for Dow Jones industrial average, 1,144.856 for Russell 2000, 2,407.392 for S&P 500, 60% of initial level
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| Upside leverage: | 128%
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 61774TTC6
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