Published on 8/3/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.86 million PLUS linked to weighted index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, Aug. 3 – Morgan Stanley Finance LLC priced $1.86 million of 0% Performance Leveraged Upside Securities due Aug. 1, 2028 linked to a weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 45% weight, the Russell 2000 index with a 20% weight, the iShares MSCI EAFE ETF with a 20% weight and the iShares MSCI Emerging Markets ETF with a 15% weight.
The notes are guaranteed by Morgan Stanley.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 136% of the basket return.
If the basket declines, investors will lose 1% for every 1% that the basket declines from its initial level.
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 indexes: | S&P 500 index (45% weight), Russell 2000 index (20% weight), iShares MSCI EAFE ETF (20% weight), | iShares MSCI Emerging Markets ETF (15% weight),
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Amount: | $1,864,000
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Maturity: | Aug. 1, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final basket level is greater than initial level, par plus 136% of basket return; full exposure to loss
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Initial index levels: | 4,537.41 for S&P, 1,954.896 for Russell, $73.91 for EAFE, $40.94 for Emerging Markets
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Pricing date: | July 27
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Settlement date: | Aug. 1
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.25%
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Cusip: | 61775HNL7
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