Published on 2/13/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $644,000 buffered PLUS linked to Dow, S&P, Russell
Chicago, Feb. 13 – Morgan Stanley Finance LLC priced $644,000 of 0% buffered PLUS due May 31, 2028 linked to the Dow Jones industrial average, S&P 500 index and Russell 2000 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 120% of the worst performing index return. Investors will receive par if the worst performing index declines by 30% or less and will lose 1% for every 1% that it declines beyond 30%.
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: | Buffered PLUS
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Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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Amount: | $644,000
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Maturity: | May 31, 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 120% of worst performing index return; par if worst performing index declines by 30% or less; 1% loss for every 1% that worst performing index declines beyond 30%
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Initial levels: | 32,764.65 for Dow, 1,754.605 for Russell, 4,151.28 for S&P
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Buffer levels: | 22,935.255 for Dow, 1,228.224 for Russell, 2,905.896 for S&P, 70% of initial levels
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Buffer: | 30%
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Upside leverage: | 120%
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Cap: | None
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Pricing date: | May 25, 2023
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Settlement date: | May 31, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 4.25%
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Cusip: | 61774XVP5
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