Published on 1/10/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.68 million trigger PLUS linked to three indexes
By Sarah Lizee
Olympia, Wash., Jan. 10 – Morgan Stanley Finance LLC priced $5.68 million of 0% trigger Performance Leveraged Upside Securities due Jan. 8, 2025 linked to the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus 193% of the least-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 its trigger level, the payout will be par. For each index, the trigger level is 65% of its initial level.
If the final level of either index is less than its trigger level, investors will be exposed to the decline of the least-performing index from its initial level.
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 Performance Leveraged Upside Securities
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Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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Amount: | $5.68 million
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Maturity: | Jan. 8, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes above initial level, par plus 193% of least-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 trigger level, par; if final level of either index is less than trigger level, exposure to decline of least-performing index from initial level
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Initial levels: | 28,634.88 for Dow, 1,660.870 for Russell, 3,234.85 for S&P
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Trigger levels: | 18,612.672 for Dow, 1,079.566 for Russell, 2,102.653 for S&P, 65% of initial levels
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Pricing date: | Jan. 3
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Settlement date: | Jan. 8
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61769H6U4
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