Published on 12/10/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $639,000 trigger PLUS linked to Nasdaq, S&P, Russell
By Kiku Steinfeld
Chicago, Dec. 10 – Morgan Stanley Finance LLC priced $639,000 of 0% trigger Performance Leveraged Upside Securities due Dec. 4, 2025 linked to the Nasdaq-100 index, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus 400% of the least-performing index’s return, capped at par plus 45%.
If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to its trigger level, the payout will be par. For each index, the trigger level is 60% of its initial level.
If the final level of either index is less than its trigger level, investors will be exposed to the decline of the least-performing index 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: | Trigger Performance Leveraged Upside Securities
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| Underlying indexes: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $639,000
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| Maturity: | Dec. 4, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 400% of least-performing index’s return capped at par plus 45%; if final level of either index is less than or equal to initial level but final level of each index is greater than or equal to trigger level, par; if final level of either index is less than trigger level, exposure to decline of least-performing index from initial level
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| Initial levels: | 3,621.63 for S&P, 12,268.32 for Nasdaq and 1,819.816 for Russell
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| Trigger levels: | 2,172.978 for S&P, 7,360.992 for Nasdaq and 1,091.890 for Russell, 60% of initial levels
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61771EGW2
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