Published on 7/17/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $534,000 dual directional trigger participation notes on two indexes
By Kiku Steinfeld
Chicago, July 19 – Morgan Stanley Finance LLC priced $534,000 of 0% dual directional trigger participation securities due May 29, 2026 linked to the worst performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final level of each index is greater than the initial index level, the payout at maturity will be par plus the laggard index return, capped at $1,470 per security.
If either index declines by 30% or less, the payout will be par plus the absolute value of the lesser performing index’s return.
If either index declines by more than 30%, investors will lose 1% for every 1% that the lesser 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 participation securities
|
| Underlying indexes: | Russell 2000, Nasdaq-100
|
| Amount: | $534,000
|
| Maturity: | May 29, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final level of each index is greater than the initial index level, par plus laggard index return, capped at $1,470 per security; if either index declines by 30% or less, par plus the absolute value of the lesser performing index’s return; if either index declines by more than 30%, 1% loss for every 1% that the lesser performing index declines from its initial level
|
| Initial levels: | 13,657.73 for Nasdaq, 2,205.750 for Russell
|
| Trigger levels: | 9,560.411 for Nasdaq, 1,544.025 for Russell; 70% of initial levels
|
| Pricing date: | May 25
|
| Settlement date: | May 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4%
|
| Cusip: | 61771VYC8
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
