Published on 10/18/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $275,000 dual directional buffered PLUS on stocks
Chicago, Oct. 18 – Morgan Stanley Finance LLC priced $275,000 of 0% dual directional buffered Performance Leveraged Upside Securities due Nov. 22, 2023 linked to the worst performing of the Johnson & Johnson, McDonald’s Corp. and Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock finishes above the initial level, the payout at maturity will be par plus 127% of the gain of the laggard stock.
If any stock falls but not by more than 83% of its initial level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be exposed to any losses beyond the 17% buffer.
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: | Dual directional buffered Performance Leveraged Upside Securities
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| Underlying stocks: | Johnson & Johnson, McDonald’s Corp. and Walmart Inc.
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| Amount: | $275,000
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| Maturity: | Nov. 22, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each stock is greater than initial index level, par plus 127% of lesser-performing stock return; if lesser-performing stock falls by up to 17%, par plus absolute value of lesser-performing stock return; otherwise, exposure to loss of lesser-performing stock beyond 17%
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| Initial levels: | $166.59 for J&J, $246.48 for McDonald’s, $131.37 for Walmart
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| Buffer levels: | $138.27 for J&J, $204.578 for McDonald’s, $109.037 for Walmart; 83% of initial levels
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| Pricing date: | Oct. 17, 2022
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| Settlement date: | Oct. 20, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61774HQS0
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