Published on 5/15/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 accelerated return securities linked to S&P 500
By Kiku Steinfeld
Chicago, May 15 – Morgan Stanley Finance LLC priced $250,000 of 0% accelerated return securities due Jan. 14, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the index is positive, the payout at maturity will be par plus 130% of the index return.
Investors will receive par if the index declines but ends at or above its 75% trigger level, and they will lose 1% for every 1% that the index declines if it finishes below the trigger level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Accelerated return securities
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Underlying index: | S&P 500 index
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Amount: | $250,000
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Maturity: | Jan. 14, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of index is positive, par plus 130% of index return; if index declines but finishes at or above its downside threshold level, par; 1% loss for every 1% that index declines if it finishes below its downside threshold level
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Initial level: | 3,969.61
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Upside leverage: | 130%
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Cap: | None
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Trigger level: | 2,977.208, 75% of initial level
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Pricing date: | Jan. 11, 2023
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Settlement date: | Jan. 17, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61774TMG4
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