Published on 5/4/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.64 million dual directional trigger PLUS on indexes
Chicago, May 4 – Morgan Stanley Finance LLC priced $2.64 million of 0% dual directional trigger PLUS due April 28, 2028 linked to the worst performing of the S&P 500 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 130% of the return of the worst performing index. Investors will receive a 0.5% gain for each 1% loss in the worst performing underlying index if that index declines but finishes above the 60% principal barrier and they will lose 1% for every 1% decline if the worst performing index ends below its principal barrier.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| 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: | $2,639,000
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| Maturity: | April 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 asset is positive, par plus 130% of that index's return; 0.5% gain for each 1% loss if worst performing asset declines but ends above principal barrier; full exposure to loss if worst performing index ends below principal barrier
|
| Initial levels: | 33,530.83 for Dow, 1,745.952 for Russell, 4,071.63 for S&P
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| Principal barrier: | 20,118.498 for Dow, 1,047.571 for Russell, 2,442.978 for S&P, 60% of initial levels
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| Upside leverage: | 130%
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| Cap: | None
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| Pricing date: | April 25
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| Settlement date: | April 28
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.208%
|
| Cusip: | 61774XJU8
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