Published on 8/26/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.11 million trigger securities linked to assorted basket
By William Gullotti
Buffalo, N.Y., Aug. 26 – Morgan Stanley Finance LLC priced $2.11 million of 0% trigger securities due Aug. 25, 2026 linked to a basket of indexes and funds, according to a 424B2 filing with the Securities and Exchange Commission.
The basket components are the S&P 500 index with a 40% weight, the Russell 2000 index with a 30% weight, the iShares MSCI EAFE ETF with a 20% weight and the iShares MSCI Emerging Markets ETF with a 10% weight.
If the final value of the basket is greater than or equal to its initial index value, the payout will be par plus the return of the basket.
If the final value of the basket is less than its initial index value by up to 35%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the basket from its initial level.
The notes are guaranteed by Morgan Stanley.
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 securities
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| Underlying basket: | S&P 500 index (40% weight), Russell 2000 index (30% weight), iShares MSCI EAFE ETF (20% weight), iShares MSCI Emerging Markets ETF (10% weight)
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| Amount: | $2.11 million
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| Maturity: | Aug. 25, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket finishes above initial level, par plus return of basket; if basket declines but not beyond 35%, par; otherwise, full exposure to losses of basket
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| Initial levels: | 4,441.67 for S&P, 2,167.6 for Russell, $79.45 for EAFE ETF, $49.50 for EM ETF
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| Trigger level: | 65% of initial levels
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| Pricing date: | Aug. 20
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| Settlement date: | Aug. 25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61773FRJ4
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