Published on 3/23/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 dual directional trigger PLUS on Nasdaq, Russell, Dow
By Kiku Steinfeld
Chicago, March 23 – Morgan Stanley Finance LLC priced $250,000 of 0% dual directional trigger PLUS due Dec. 3, 2027 linked to the Dow Jones industrial average, Russell 2000 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 168% of the return of the worst performing index. Investors will receive a 1% gain for each 1% loss in the worst performing underlying index if that index declines but finishes above the 70% principal barrier, and they will lose 1% for every 1% decline if the worst performing index ends below its principal barrier.
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 PLUS
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
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| Amount: | $250,000
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| Maturity: | Dec. 3, 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 asset is positive, par plus 168% of that index's return; 1% gain for each 1% loss if worst performing asset declines but ends above principal barrier; full exposure to loss if worst performing index ends below principal barrier
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| Initial levels: | 34,589.77 for Dow, 12,030.06 for Nasdaq, 1,886.577 for Russell
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| Principal barrier: | 24,212.839 for Dow, 8,421.042 for Nasdaq, 1,320.604 for Russell, 70% of initial level
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| Upside leverage: | 168%
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| Cap: | None
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| Pricing date: | Nov. 30, 2022
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| Settlement date: | Dec. 5, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61774HZH4
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