Published on 10/12/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $650,000 trigger jump notes on indexes
Kiku Steinfeld
Chicago, Oct. 12 – Morgan Stanley Finance LLC priced $650,000 of 0% trigger jump securities due Oct. 3, 2025 linked to the Dow Jones industrial average, the Nasdaq-100 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 of $1,000 plus the greater of the least-performing index’s return and 48%.
If the least performing index falls but finishes at or above its trigger level, 70% of its initial index level, the payout will be par.
If any index finishes below its trigger 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger jump securities
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| Underlying indexes: | Nasdaq-100, Russell 2000, Dow Jones industrial average
|
| Amount: | $650,000
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| Maturity: | Oct. 3, 2025
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | If each index finishes at or above initial level, par plus greater of least-performing index’s return and 48%; if any index falls but each finishes at or above trigger level, par; if any index finishes below trigger level, 1% loss for every 1% that least-performing index declines from initial level
|
| Initial levels: | 27,781.70 for Dow, 1,507.692 for Russell, 11,418.06 for Nasdaq
|
| Trigger levels: | 19,447.19 for Dow, 1,055.384 for Russell, 7,992.642 for Nasdaq; 70% of initial levels
|
| Pricing date: | Sept. 30
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| Settlement date: | Oct. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.625%
|
| Cusip: | 61771BS62
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