Published on 3/2/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $902,000 Trigger PLUS linked to Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, March 4 – Morgan Stanley Finance LLC priced $902,000 of 0% Trigger PLUS due June 30, 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 400% of the return of the worst performing index subject to a maximum return of par plus 68%. Investors will receive par if the return of the worst performing index is negative but ends at or above the 65% 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: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $902,000
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Maturity: | June 30, 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 400% of the gain of the worst performing index subject to a maximum return of par plus 68%; 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: | 33,926.74 for Dow, 14,945.91 for Nasdaq, 1,849.930 for Russell
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Trigger levels: | 22,052.381 for Dow, 9,714.842 for Nasdaq, 1,202.455 for Russell, 65% of initial level
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Upside leverage: | 400%
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Cap: | 68%
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Pricing date: | June 27, 2023
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Settlement date: | June 30, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 4.25%
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Cusip: | 61771WAU2
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