Published on 6/2/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.28 million dual directional buffered PLUS on indexes
By William Gullotti
Buffalo, N.Y., June 2 – Morgan Stanley Finance LLC priced $2.28 million of 0% dual directional buffered Performance Leveraged Upside Securities due May 9, 2024 linked to the worst performing of the Nasdaq-100 index, Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 114% of the gain of the least performing index.
If any index falls but none falls by more than 15%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will be exposed to any decline in the least performing index beyond the 15% buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered Performance Leveraged Upside Securities
|
| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average, Russell 2000
|
| Amount: | $2,281,000
|
| Maturity: | May 9, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index gains, par plus 114% of the least performing index return; if lesser-performing index falls by up to buffer level, par plus absolute value of the return of that index; otherwise, exposure to any decline of lesser-performing index beyond buffer
|
| Initial levels: | 13,613.73 for Nasdaq, 34,548.53 for Dow, 2,241.421 for Russell
|
| Buffer levels: | 11,571.671 for Nasdaq, 29,366.251 for Dow, 1,905.208 for Russell; 85% of initial levels
|
| Pricing date: | May 6
|
| Settlement date: | May 11
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61771VG79
|
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