Published on 11/3/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $570,000 Trigger PLUS linked to Dow, Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 3 – Morgan Stanley Finance LLC priced $570,000 of 0% Trigger PLUS due April 5, 2028 linked to the Dow Jones industrial average, Russell 2000 index and S&P 500 index, 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 150% 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 50% 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $570,000
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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 return of worst performing index is positive, par plus 150% 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: | 33,274.15 for Dow, 1,802.484 for Russell, 4,109.31 for S&P
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Trigger level: | 16,637.075 for Dow, 901.242 for Russell, 2,054.655 for S&P, 50% of initial level
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Upside leverage: | 150%
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Cap: | None
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Pricing date: | March 31, 2023
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Settlement date: | April 5, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61774T3Q3
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