Published on 7/11/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.27 million PLUS linked to four-stock basket
By William Gullotti
Buffalo, N.Y., July 11 – Morgan Stanley Finance LLC priced $3.27 million of 0% Performance Leveraged Upside Securities due Jan. 3, 2025 linked to an equally-weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of Bank of America Corp., Walt Disney Co., Charles Schwab Corp. and Occidental Petroleum Corp.
If the basket return is flat or positive, the payout at maturity will be par plus 300% of the basket return, subject to a maximum payout of par plus 28.1%.
Investors will be fully exposed to any basket decline.
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: | Performance Leveraged Upside Securities
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Underlying basket: | Bank of America Corp., Walt Disney Co., Charles Schwab Corp., Occidental Petroleum Corp.; equal weights
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Amount: | $3,265,000
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Maturity: | Jan. 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket finishes flat or positive, par plus 300% of basket return, capped at par plus 28.1%; otherwise, 1% loss for every 1% decline from initial level
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Initial levels: | $28.69 for BofA, $89.28 for Disney, $353.70 for Charles Schwab, $140.32 for Occidental
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.5%
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Cusip: | 61775HCA3
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