Published on 12/23/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.06 million trigger PLUS linked to Nasdaq, S&P, Russell
By Cady Vishniac
Detroit, Dec. 23 – Morgan Stanley Finance LLC priced $4.06 million of 0% trigger Performance Leveraged Upside Securities due Dec. 23, 2025 linked to the least performing of the Nasdaq-100 index, 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, capped at $1,610 per $1,000 note.
If the final level of any 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 80% of its initial level.
If the final level of any 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: | Nasdaq-100 index, S&P 500 index and Russell 2000 index
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| Amount: | $4,061,000
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| Maturity: | Dec. 23, 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, capped at $1,610 per $1,000 note; if final level of any 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 any index is less than trigger level, exposure to decline of least-performing index from initial level
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| Initial levels: | 3,709.41 for S&P, 12,738.18 for Nasdaq and 1,969.986 for Russell
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| Trigger levels: | 2,967.528 for S&P, 10,190.544 for Nasdaq and 1,575.989 for Russell, 80% of initial levels
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61771EUQ9
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