Published on 6/16/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $19.95 million trigger PLUS linked to weighted index basket
By William Gullotti
Buffalo, N.Y., June 16 – Morgan Stanley Finance LLC priced $19.95 million of 0% trigger Performance Leveraged Upside Securities due June 8, 2028 linked to a weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, the Nikkei 225 index with a 15% weight, the Euro Stoxx 50 index with a 15% weight, the Nasdaq-100 index with a 10% weight, the Dow Jones industrial average with a 10% weight and the Russell 2000 index with a 10% weight.
The notes are guaranteed by Morgan Stanley.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 131% of the basket return.
If the basket declines by 30% or less, the payout will be par. If the basket declines by more than 30%, investors will lose 1% for every 1% that the basket 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: | Trigger Performance Leveraged Upside Securities
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| Underlying indexes: | S&P 500 index (40% weight), Nikkei 225 index (15% weight), Euro Stoxx 50 index (15% weight), Nasdaq-100 index (10% weight), Dow Jones industrial average (10% weight), Russell 2000 index (10% weight)
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| Amount: | $19.95 million
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| Maturity: | June 8, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final basket level is greater than initial level, par plus 131% of basket return; if final basket level is less than initial basket level but greater than or equal to trigger level, par; if final basket level is less than trigger level, 1% loss for every 1% that basket declines from initial level
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| Initial index levels: | 4,273.79 for S&P, 32,217.43 for Nikkei, 4,293.24 for Stoxx, 14,556.5 for Nasdaq, 33,562.86 for Dow, 1,806.713 for Russell
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| Trigger level: | 70% of initial level
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| Pricing date: | June 5
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| Settlement date: | June 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61774X5V1
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