Published on 2/18/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $929,000 dual directional trigger jump notes on indexes
By Kiku Steinfeld
Chicago, Feb. 20 – Morgan Stanley Finance LLC priced $929,000 of 0% dual directional trigger jump securities due Nov. 18, 2027 linked to the Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, 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 the greater of 72% and the worst performing index’s return.
Investors will receive a 1% gain for each 1% loss in the worst performing index if that index declines but finishes above the 70% downside threshold, and they will lose 1% for every 1% decline if the worst performing index ends below its downside threshold.
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 trigger jump securities
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $929,000
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Maturity: | Nov. 18, 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 greater of 72% and worst performing index’s return; 1% gain for each 1% loss if worst performing index declines but ends above downside threshold; full exposure to loss if worst performing index ends below downside threshold
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Initial levels: | 33,536.70 for Dow, 11,700.94 for Nasdaq, 1,861.251 for Russell
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Upside payment: | 72%
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Downside threshold: | 23,475.69 for Dow, 8,190.658 for Nasdaq, 1,302.876 for Russell, 70% of initial level
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Pricing date: | Nov. 14, 2022
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Settlement date: | Nov. 17, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61774HZX9
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