Published on 8/14/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1 million dual directional trigger jump notes on Dow, Nasdaq, Russell
By Sarah Lizee
Olympia, Wash., Aug. 14 – Morgan Stanley Finance LLC priced $1 million of 0% dual directional trigger jump securities due Aug. 5, 2025 linked to the least performing of the Dow Jones industrial average, the Russell 2000 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 least performing index finishes at or above its initial index level, the payout at maturity will be par plus the greater of the return of the worst performer and 35%.
If the final index level of the worst performer declines, but not below 70% of its initial level, the payout will be par plus the absolute value of the index return of the worst performer.
If the lesser performing index finishes below the downside threshold value, investors will lose 1% for every 1% that the least performing index 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: | Dual directional trigger jump securities
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 and Russell 2000
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| Amount: | $1 million
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| Maturity: | Aug. 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the least performing index finishes at or above its initial index level, greater of par plus 35% and par plus return of worst performing index; if the final index level of the lesser performing index is less than the initial index level but greater than or equal to 70% of its initial value, par plus the absolute value of the return of that index; otherwise, 1% loss for every 1% that the least performing index declines from its initial level
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| Initial levels: | 10,905.88 for Nasdaq, 1,480.427 for Russell, 26,428.32 for Dow
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| Downside threshold values: | 7,634.116 for Nasdaq, 1,036.299 for Russell, 18,499.824 for Dow; 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61771BQS6
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