Published on 8/21/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $977,000 trigger PLUS linked to Dow, Nasdaq, Russell
By Kiku Steinfeld
Chicago, Aug. 23 – Morgan Stanley Finance LLC priced $977,000 of 0% trigger Performance Leveraged Upside Securities due Aug. 4, 2026 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 each index finishes above its initial level, the payout at maturity will be par plus 1.15 times the return of the least-performing index.
If the final level of any 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, 50% of its initial level, the payout will be par plus the least-performing index’s return.
If any index finishes below the trigger level, 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: | Trigger Performance Leveraged Upside Securities
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, Nasdaq-100 index
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| Amount: | $977,000
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| Maturity: | Aug. 4, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above its initial level, par plus 1.15 times the return of the least-performing index; if any index finishes at or below its initial level but the final level of each index is greater than or equal to its trigger level, par; otherwise, 1% loss for every 1% that the least-performing index declines from its initial level
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| Initial levels: | 34,935.47 for Dow, 2,226.246 for Russell, 14,959.90 for Nasdaq
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| Triggers: | 17,467.735 for Dow, 1,113.123 for Russell and 7,479.95 for Nasdaq; 50% of initial levels
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| Pricing date: | July 30
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| Settlement date: | Aug. 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773FDE0
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