Published on 6/14/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.22 million dual directional buffered PLUS on indexes
By Kiku Steinfeld
Chicago, June 14 – Morgan Stanley Finance LLC priced $1.22 million of 0% dual directional buffered Performance Leveraged Upside Securities due May 23, 2024 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 120% of the gain of the lesser performing index.
If any index falls but no index 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: | $1,216,000
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| Maturity: | May 23, 2024
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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 120% 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: | 34,060.66 for Dow, 13,217.68 for Nasdaq, 2,210.877 for Russell
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| Buffer levels: | 28,951.561 for Dow, 11,235.028 for Nasdaq, 1,879.245 for Russell, or 85% of initial levels
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| Pricing date: | May 18
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| Settlement date: | May 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61771VW71
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