Published on 4/13/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 trigger PLUS linked to three indexes
By Sarah Lizee
Olympia, Wash., April 13 – Morgan Stanley Finance LLC priced $250,000 of 0% trigger Performance Leveraged Upside Securities due April 3, 2025 linked to the Dow Jones industrial average, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus 500% of the least-performing index’s return, subject to a maximum return of 97.5%.
If the final level of either index is less than or equal to its initial level but the final level of each index is greater than or equal to its trigger level, the payout will be par. For each index, the trigger level is 70% of its initial level.
If the final level of either index is less than its trigger level, investors will be exposed to the decline of the least-performing index 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: | Trigger Performance Leveraged Upside Securities
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Underlying indexes: | Dow Jones industrial average, S&P 500 index and Russell 2000 index
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Amount: | $250,000
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Maturity: | April 3, 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 500% of least-performing index’s return, subject to 97.5% maximum return; if final level of either index is less than or equal to initial level but final level of each index is greater than or equal to trigger level, par; if final level of either index is less than trigger level, exposure to decline of least-performing index from initial level
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Initial levels: | 21,917.16 for Dow, 1,153.103 for Russell, 2,584.59 for S&P
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Trigger levels: | 15,342.012 for Dow, 807.172 for Russell, 1,809.213 for S&P, 70% of initial levels
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Pricing date: | March 31
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Settlement date: | April 3
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.5%
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Cusip: | 61770FSE7
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