Published on 8/13/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 dual directional trigger PLUS on Dow, Russell, S&P
By Sarah Lizee
Olympia, Wash., Aug. 13 – Morgan Stanley Finance LLC priced $250,000 of 0% dual directional trigger Performance Leveraged Upside Securities due Aug. 5, 2025 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.3 times the return of the least-performing index.
If either index finishes below its initial level but each index finishes at or above its downside threshold level, 70% of its initial level, the payout will be par plus the absolute value of the return of the least-performing index.
If either index finishes below the downside threshold 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: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $250,000
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| Maturity: | Aug. 5, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus 1.3 times the return of the least-performing index; if either index finishes below initial level but each index finishes at or above downside threshold level, par plus absolute value of return of least-performing index; if either index finishes below downside threshold level, 1% loss for every 1% that least-performing index declines from initial level
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| Initial levels: | 26,428.32 for Dow, 1,480.427 for Russell, 3,271.12 for S&P
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| Downside threshold levels: | 18,499.824 for Dow, 1,036.299 for Russell, 2,289.784 for S&P, or 70% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61771BQM9
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