Published on 3/10/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 dual directional trigger jump securities on Dow, Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, March 10 – Morgan Stanley Finance LLC priced $250,000 of 0% dual directional trigger jump securities due Aug. 31, 2023 linked to the least performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the return of the least-performing index and 26%.
If any index finishes below its initial level but each index finishes at or above its downside threshold level, 70% of its initial level, the payout will be par plus the absolute value of the return of the least-performing index.
If any index finishes below the downside threshold level, 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
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional trigger jump securities
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| Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000
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| Amount: | $250,000
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| Maturity: | Aug. 31, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, the greater of the return of least-performing index and 26%; if any index finishes below initial level but each index finishes at or above downside threshold level, par plus absolute value of return of least-performing index; if any index finishes below downside threshold level, 1% loss for every 1% that least-performing index declines from initial level
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| Initial levels: | 25,409.36 for Dow, 1,476.431 for Russell. 2,954.22 for S&P
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| Downside threshold levels: | 17,786.552 for Dow, 1,033.502 for Russell, 2,067.954 for S&P, or 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61770FKQ8
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