Published on 2/23/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.05 million Buffered PLUS linked to Energy ETF
New York, Feb. 23 – Morgan Stanley Finance LLC priced $1.05 million of 0% Buffered PLUS due March 21, 2024 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 200% of the fund return, subject to a maximum return of par plus 21%.
Investors will receive par if the fund declines by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
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 fund: | Energy Select Sector SPDR Fund
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Amount: | $1,045,000
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Maturity: | March 21, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus 200% of fund return, subject to a maximum return of par plus 21%; par if fund declines by 15% or less; otherwise, 1% loss for every 1% that fund declines beyond 15%
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Initial level: | $87.61
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Buffer level: | $74.469, 85% of initial level
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Upside leverage: | 200%
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Cap: | 21%
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Pricing date: | Feb. 16
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Settlement date: | Feb. 22
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61774TJ29
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