Published on 2/10/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.03 million PLUS linked to financial stock basket
By William Gullotti
Buffalo, N.Y., Feb. 10 – Morgan Stanley Finance LLC priced $3.03 million of 0% Performance Leveraged Upside Securities due April 2, 2024 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., Goldman Sachs Group, Inc. and JPMorgan Chase & Co.
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 27.05%.
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
|
| Guarantor: | Morgan Stanley
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| Issue: | Performance Leveraged Upside Securities
|
| Underlying basket: | Bank of America Corp., Goldman Sachs Group, Inc., JPMorgan Chase & Co.; equal weights
|
| Amount: | $3,032,000
|
| Maturity: | April 2, 2024
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket finishes flat or positive, par plus 300% of basket return, capped at par plus 27.05%; otherwise, 1% loss for every 1% decline from initial level
|
| Initial levels: | $35.45 for BofA, $353.70 for Goldman Sachs, $140.32 for JPMorgan
|
| Pricing date: | Jan. 27
|
| Settlement date: | Feb. 1
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 61774U166
|
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