Published on 4/26/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.42 million dual directional trigger jump on three indexes
New York, April 26 – Morgan Stanley Finance LLC priced $1.42 million of 0% dual directional trigger jump securities due April 5, 2028 linked to the Nasdaq-100 index, Russell 2000 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 the greater of that return and 50%.
If the worst performing index declines but by no more than the 60% downside threshold investors will receive par plus 100% of the absolute value of the return of the worst performing index. They will lose 1% for every 1% decline if the worst performing index ends below its downside threshold.
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 jump securities
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Underlying assets: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $1,423,000
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Maturity: | April 5, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains par plus greater of worst performing index return and 50%; par plus 100% of absolute value of worst performing index return if worst performing index declines but by no more than the 60% downside threshold; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold
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Initial levels: | 33,274.15 for Dow Jones industrial average, 13,181.35 for Nasdaq-100, 1,802.484 for Russell 2000
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Upside payment: | 50%
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Downside threshold: | 19,964.49 for Dow Jones industrial average, 7,908.81 for Nasdaq-100, 1,081.49 for Russell 2000, 60% of initial level
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Pricing date: | March 31
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Settlement date: | April 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61774T3T7
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