Published on 5/31/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.39 million dual directional trigger jump notes on indexes
By William Gullotti
Buffalo, N.Y., June 1 – Morgan Stanley Finance LLC priced $1.39 million of 0% dual directional trigger jump securities due May 5, 2026 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the least performing index finishes at or above its initial index level, the payout at maturity will be par plus the greater of the return of the worst performer or 27%.
If the final index level of the worst performer declines, but not below 70% of its initial level, the payout will be par plus the absolute value of the index return of the worst performer.
If the lesser performing index finishes below the downside threshold value, investors will lose 1% for every 1% that the least performing index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger jump securities
|
| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
|
| Amount: | $1,390,000
|
| Maturity: | May 5, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the least performing index finishes at or above its initial index level, greater of par plus 27% and par plus return of worst performing index; if the final index level of the lesser performing index is less than the initial index level but greater than or equal to 70% of its initial value, par plus the absolute value of the return of that index; otherwise, 1% loss for every 1% that the least performing index declines from its initial level
|
| Initial levels: | 33,874.85 for Dow, 13,860.76 for Nasdaq, 2,266.449 for Russell
|
| Downside threshold values: | 23,712.395 for Dow, 9,702.532 for Nasdaq, 1,586.514 for Russell; 70% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61771VPZ7
|
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