Published on 11/4/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.01 million dual directional buffered notes on S&P, Nasdaq
By Kiku Steinfeld
Chicago, Nov. 4 – Morgan Stanley Finance LLC priced $1.01 million of 0% dual directional buffered participation securities due March 13, 2023 linked to the S&P 500 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing index is positive, the payout at maturity will be par plus 100% of the return of the worst performing index subject to a maximum return of par plus 14.25%.
Investors will receive par plus 150% of absolute return of the worst performing index if it declines but by no more than the 10% buffer and will be exposed to any decline in the worst performing index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Dual directional buffered participation securities
|
Underlying indexes: | S&P 500 index and Nasdaq-100 index
|
Amount: | $1,014,000
|
Maturity: | March 13, 2023
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If return of worst performing index is positive, par plus 100% of that index's return subject to a maximum return of par plus 14.25%; par plus 150% of absolute return of worst performing index if it declines but by no more than 10%; exposure to loss of worst performing index beyond buffer
|
Initial levels: | 13,319.38 for Nasdaq, 4,201.09 for S&P
|
Upside leverage: | 100%
|
Cap: | 14.25%
|
Absolute return: | 150%
|
Buffer levels: | 11,987.442 for Nasdaq, 3,780.981 for S&P, 90% of initial levels
|
Pricing date: | March 7
|
Settlement date: | March 10
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 0.25%
|
Cusip: | 61773QMF3
|
|
|
© 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.