Published on 1/11/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $932,000 dual directional buffered participation notes on indexes
By Kiku Steinfeld
Chicago, Jan. 11 – Morgan Stanley Finance LLC priced $932,000 of 0% dual directional buffered participation securities due Jan. 30, 2025 linked to the S&P 500 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 100% of the return of the worst performing index subject to a maximum return of par plus 24.5%.
Investors will receive par plus 100% of absolute return of the worst performing index if it declines but by no more than the 10% buffer and will be exposed to any decline in the worst performing index beyond the buffer.
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 buffered participation securities
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| Underlying indexes: | S&P 500 index and Dow Jones industrial average
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| Amount: | $932,000
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| Maturity: | Jan. 30, 2025
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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 100% of that index's return subject to a maximum return of par plus 24.5%; par plus 100% of absolute return of worst performing index if it declines but by no more than 10%; exposure to loss of worst performing index beyond buffer
|
| Initial levels: | 33,530.83 for Dow Jones industrial average, 4,071.63 for S&P 500
|
| Upside leverage: | 100%
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| Cap: | 24.5%
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| Absolute return: | 100%
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| Buffer: | 10%
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| Buffer levels: | 30,177.747 for Dow Jones industrial average, 3,664.467 for S&P 500, 90% of initial levels
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| Pricing date: | April 25, 2023
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| Settlement date: | April 28, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
|
| Cusip: | 61774XHP1
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