Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.04 million dual directional trigger PLUS on three indexes
New York, April 8 – Morgan Stanley Finance LLC priced $1.04 million of 0% dual directional trigger PLUS due March 29, 2029 linked to the S&P 500 index, the Russell 2000 index and the 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 117% of the return of that index.
Investors will receive a 0.5% gain for each 1% loss in the worst performing underlying index if that index declines but finishes at or above the 60% principal barrier and 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
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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: | $1,035,000
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Maturity: | March 29, 2029
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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 117% of that index's return; 0.5% gain for each 1% loss if worst performing index declines but ends at or above principal barrier; otherwise, full exposure to decline of worst performing index from initial level
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Initial levels: | 39,313.64 for Dow Jones industrial average, 2,074.163 for Russell 2000, 5,218.19 for S&P 500
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Principal barriers: | 23,588.184 for Dow Jones industrial average, 1,244.498 for Russell 2000, 3,130.914 for S&P 500, 60% of initial levels
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Upside leverage: | 117%
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Pricing date: | March 25
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Settlement date: | March 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 4.15%
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Cusip: | 61771WW53
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