Published on 11/7/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.87 million buffered PLUS linked to weighted index basket
By William Gullotti
Buffalo, N.Y., Nov. 7 – Morgan Stanley Finance LLC priced $4.87 million of 0% buffered Performance Leveraged Upside Securities due May 8, 2025 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Tokyo Stock Price index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with a 9% weight.
If the return of basket is greater than or equal to its initial value, the payout will be par plus 164.5% of the basket return.
If the basket falls by up to 10%, the payout will be par. Otherwise, investors will lose 1.1111% for every 1% decline of the basket beyond 10%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Underlying basket: | Euro Stoxx 50 index (36% weight), Tokyo Stock Price index (26% weight), FTSE 100 index (17% weight), Swiss Market index (12% weight), S&P/ASX 200 index (9% weight)
|
| Amount: | $4,871,000
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| Maturity: | May 8, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the return of basket is greater than or equal initial value, par plus 164.5% of basket return; if the basket falls by no more than 10%, par; otherwise, lose 1.1111% for each 1% of basket decline beyond 10%
|
| Initial levels: | 4,061.12 for Euro Stoxx 50, 2,253.72 for Tokyo Stock Price, 7,321.72 for FTSE 100, 10,391.16 for Swiss Market, 6,780.678 for S&P/ASX 200
|
| Buffer level: | 90% of initial basket level
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 6
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
|
| Cusip: | 61775MTZ9
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