Published on 8/23/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.36 million dual directional buffered PLUS on indexes
By Kiku Steinfeld
Chicago, Aug. 23 – Morgan Stanley Finance LLC priced $1.36 million of 0% dual directional buffered Performance Leveraged Upside Securities due June 20, 2024 linked to the worse performing of the Nasdaq-100 index, the 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 1.11 times the gain of the lesser performing index
If any index falls by no 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
|
| 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 and Russell 2000
|
| Amount: | $1,362,000
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| Maturity: | June 20, 2024
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | If each index gains, par plus 1.11 times 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
|
| Initial levels: | 14,030.41 for Nasdaq, 2,320.072 for Russell, 34,299.33 for Dow
|
| Buffer levels: | 11,925.849 for Nasdaq, 1,925.849 for Russell, 29,154.431 for Dow, or 85% of initial levels
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| Pricing date: | June 15
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| Settlement date: | June 18
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61771VY61
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