Published on 11/19/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.69 million dual directional trigger notes on Nasdaq, S&P
By Taylor Fox
New York, Nov. 19 – Morgan Stanley Finance LLC priced $1.69 million of 0% dual directional trigger participation securities due Nov. 3, 2022 linked to the S&P 500 index and the Nasdaq-100 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final level of each index is greater than the initial index level, the payout at maturity will be par plus the index return, up to 133.5%.
If either index declines by 25% or less, the payout will be par plus the absolute value of the lesser performing index’s return.
If either index declines by more than 25%, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Dual directional trigger participation securities
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| Underlying indexes: | S&P 500, Nasdaq-100
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| Amount: | $1,693,000
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| Maturity: | Nov. 3, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of each index is greater than the initial index level, par plus the index return, up to 133.5%; if either index declines by 25% or less, par plus the absolute value of the lesser performing index’s return; if either index declines by more than 25%, 1% loss for every 1% that the lesser performing index declines from its initial level
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| Initial levels: | 3,269.96 for S&P, 11,052.95 for Nasdaq
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| Trigger levels: | 2,452.47 for S&P, 8,289.713 for Nasdaq; 75% of initial level
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61771B5N0
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