Published on 3/3/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 dual directional trigger PLUS linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., March 3 – Morgan Stanley Finance LLC priced $250,000 of 0% dual directional trigger Performance Leveraged Upside Securities due Feb. 28, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 117.5% of the lesser-performing index’s return.
If either index finishes at or below its initial level but each index finishes at or above its trigger level, 70% of its initial level, the payout will be par plus the absolute value of the lesser-performing index’s return.
If either index finishes below its trigger level, investors will be fully exposed to that index’s decline from its initial level.
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: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying indexes: | S&P 500 and Russell 2000
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| Amount: | $250,000
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| Maturity: | Feb. 28, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 117.5% of lesser-performing index’s return; if either index finishes at or below initial level but each index finishes at or above trigger level, par plus absolute value of lesser-performing index’s return; if either index finishes below trigger level, full exposure to that index’s decline from initial level
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| Initial levels: | 3,128.21 for S&P 500 and 1,571.897 for Russell 2000
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| Trigger levels: | 2,189.747 for S&P 500 and 1,100.328 for Russell 2000, or 70% of initial levels
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.2%
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| Cusip: | 61770FFS0
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