Published on 3/25/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1 million dual directional buffered PLUS on indexes
By Taylor Fox
New York, March 25 – Morgan Stanley Finance LLC priced $1 million of 0% dual directional buffered Performance Leveraged Upside Securities due March 16, 2023 linked to the worse performing of the Nasdaq-100 index, Dow Jones industrial average 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 105% of the gain of the lesser performing index.
If either index falls but neither falls by more than 15%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will be exposed to any decline in the lesser performing index beyond the 15% buffer.
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 buffered Performance Leveraged Upside Securities
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average, Russell 2000
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| Amount: | $1 million
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| Maturity: | March 16, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 105% of the lesser-performing index return; if lesser-performing index falls by up to buffer level, par plus absolute value of the return of that index; otherwise, exposure to any decline of lesser-performing index beyond buffer
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| Initial levels: | 12,937.29 for Nasdaq, 32,778.64 for Dow and 2,352.789 for Russell
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| Buffer levels: | 10,996.697 for Nasdaq, 27,861.844 for Dow and 1,999.871 for Russell, or 85% of initial levels
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| Pricing date: | March 12
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| Settlement date: | March 17
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61771VHH6
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