Published on 11/8/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $736,000 dual directional notes linked to Dow, Russell
By Angela McDaniels
Tacoma, Wash., Nov. 8 – Morgan Stanley Finance LLC priced $736,000 of 0% dual directional buffered Performance Leveraged Upside Securities due Nov. 5, 2024 linked to the lesser performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index’s return is positive, the payout at maturity will be par plus 155% of the lesser-performing index’s return.
If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to 80% of its initial level, the payout will be par plus the absolute value of the lesser-performing index’s return.
Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered Performance Leveraged Upside Securities
|
| Underlying indexes: | Dow Jones industrial average and Russell 2000
|
| Amount: | $736,000
|
| Maturity: | Nov. 5, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index’s return is positive, par plus 155% of lesser-performing index’s return; if final level of either index is less than or equal to initial level but final level of each index is greater than or equal to 80% of initial level, par plus absolute value of lesser-performing index’s return; otherwise, 1% loss for every 1% that lesser-performing index declines beyond 20%
|
| Initial levels: | 27,046.23 for Dow and 1,562.452 for Russell 2000
|
| Buffer level: | 21,636.984 for Dow and 1,249.962 for Russell 2000, or 80% of initial level
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.125%
|
| Cusip: | 61769HXV2
|
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