Published on 6/15/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 buffered jump securities linked to S&P 500
By Kiku Steinfeld
Chicago, June 15 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered jump securities due Jan. 31, 2028 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the greater of any index gain and 30%. Investors will receive par if the index finishes below its initial level but declines by 20% or less and will lose 1% for every 1% that the index declines beyond the buffer.
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: | Buffered jump securities
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Underlying index: | S&P 500 index
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Amount: | $250,000
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Maturity: | Jan. 31, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of any index gain and 30%; par if index declines by 20% or less; 1% loss for every 1% that index declines beyond 20%
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Initial level: | 4,060.43
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Upside payment: | 30%
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Buffer: | 20%
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Buffer level: | 3,248.344, 80% of initial level
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Pricing date: | Jan. 26, 2023
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Settlement date: | Jan. 31, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.5%
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Cusip: | 61774TNF5
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