Published on 3/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.49 million Buffered PLUS linked to Stoxx index, iShares ETF
New York, March 28 – Morgan Stanley Finance LLC priced $3.49 million of 0% Buffered PLUS due Feb. 5, 2026 linked to the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlier’s return is positive, the payout at maturity will be par plus 175% of the return of the laggard asset.
Investors will receive par if the laggard asset declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
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: | Buffered PLUS
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| Underlying assets: | Euro Stoxx 50 index and iShares MSCI EAFE ETF
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| Amount: | $3,486,000
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| Maturity: | Feb. 5, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If return of worst performing asset is positive, par plus 175% of that asset's return; par if worst performing asset declines by 10% or less; otherwise, 1% loss for every 1% that worst performing asset declines beyond 10%
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| Initial level: | $71.55 for iShares MSCI EAFE ETF, 4,163.45 for Euro Stoxx 50
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| Buffer level: | $64.395 for iShares MSCI EAFE ETF, 3,747.105 for Euro Stoxx 50 index, 90% of initial level
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| Upside leverage: | 175%
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61774TML3
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