Published on 8/8/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.03 million capped trigger step notes on S&P MidCap, Russell
Chicago, Aug. 8 – Morgan Stanley Finance LLC priced $3.03 million of 0% capped trigger step securities due Dec. 22, 2025 linked to the least performing of the Russell 2000 index and the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If both underliers close above their initial levels, investors will be paid either the higher of par plus the 28% step return or the return of the lesser performing index, capped at par plus 47%.
If either index declines, but both finish above their 75% downside thresholds investors will receive par.
Otherwise, investors will be fully exposed to the losses of the worst performer.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Capped trigger step securities
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| Underlying indexes: | S&P MidCap 400 index and Russell 2000 index
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| Amount: | $3,027,300
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| Maturity: | Dec. 22, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If both indexes finish above initial levels, par plus greater of 28% step return or return of worst performer capped at par plus 47%; par if either index declines but both finish above downside threshold level; otherwise, full exposure to losses of worst performer
|
| Initial levels: | 2,728.08 for Mid, 2,173.93 for Russell
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| Downside thresholds: | 2,046.06 for S&P, 1,630.448 for Russell, 75% of initial levels
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| Pricing date: | Dec. 17, 2021
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| Settlement date: | Dec. 22, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | UBS Financial Services Inc.
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| Fees: | 3%
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| Cusip: | 61773N486
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