Published on 11/24/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $10.91 million trigger PLUS linked to Stoxx, Nikkei
By Wendy Van Sickle
Columbus, Ohio, Nov. 24 – Morgan Stanley Finance LLC priced $10.91 million of 0% trigger Performance Leveraged Upside Securities due Nov. 25, 2025 linked to the worst performing of the Nikkei 225 index and the Euro Stoxx 50 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 247% of the lesser-performing index’s return.
If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to its trigger level, the payout will be par. For each index, the trigger level is 75% of its initial level.
If the final level of either index is less than its trigger level, investors will be fully exposed to the decline of the lesser-performing index from its initial level.
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: | Trigger Performance Leveraged Upside Securities
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| Underlying indexes: | Nikkei 225, Euro Stoxx 50
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| Amount: | $10,911,000
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| Maturity: | Nov. 25, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 247% of lesser-performing index’s return; if final level of either index is less than or equal to initial level but final level of each index is greater than or equal to trigger level, par; if final level of either index is less than trigger level, full exposure to decline of lesser-performing index from initial level
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| Initial levels: | 4,356.47 for Stoxx, 29,745.87 for Nikkei
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| Trigger levels: | 3,267.353 for Stoxx, 22,309.4 for Nikkei; 75% of initial levels
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| Pricing date: | Nov. 18
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| Settlement date: | Nov. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61773HGF0
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