Published on 2/21/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $625,000 Buffered PLUS on three indexes
By Kiku Steinfeld
Chicago, Feb. 21 – Morgan Stanley Finance LLC priced $625,000 of 0% Buffered PLUS due Nov. 9, 2027 linked to the Dow Jones industrial average, S&P 500 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing index is positive, the payout at maturity will be par plus 400% of the return of that index subject to a maximum return of par plus 75%. Investors will receive par if the worst performing index declines by 30% or less and will lose 1% for every 1% that the worst performing index declines beyond 30%.
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 indexes: | Dow Jones industrial average, S&P 500 index and Nasdaq-100 index
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Amount: | $625,000
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Maturity: | Nov. 9, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of worst performing index is positive, par plus 400% of that index's return subject to a maximum return of par plus 75%; par if worst performing index declines by 30% or less; 1% loss for every 1% that worst performing index declines beyond 30%
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Initial levels: | 32,403.22 for Dow, 10,857.03 for Nasdaq, 3,770.55 for S&P
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Buffer level: | 22,682.254 for Dow, 7,599.921 for Nasdaq, 2,639.385 for S&P, 70% of initial level
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Upside leverage: | 400%
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Cap: | 75%
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Pricing date: | Nov. 10, 2022
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Settlement date: | Nov. 16, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61774HR26
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