Published on 9/9/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $841,000 dual directional trigger participation notes on indexes
By William Gullotti
Buffalo, N.Y., Sept. 9 – Morgan Stanley Finance LLC priced $841,000 of 0% dual directional trigger participation securities due June 30, 2026 linked to the worst performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final level of each index is greater than the initial index level, the payout at maturity will be par plus the laggard index return.
If either index declines by 30% or less, the payout will be par plus 0.5 times the absolute value of the lesser performing index’s return.
If either index declines by more than 30%, investors will lose 1% for every 1% that the lesser performing index declines 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: | Dual directional trigger participation securities
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| Underlying indexes: | Russell 2000, Nasdaq-100
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| Amount: | $841,000
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| Maturity: | June 30, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of each index is greater than the initial index level, par plus laggard index return; if either index declines by 30% or less, par plus half of the absolute value of the lesser performing index’s return; if either index declines by more than 30%, 1% loss for every 1% that the lesser performing index declines from its initial level
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| Initial levels: | 2,334.396 for Russell, 14,345.18 for Nasdaq
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| Trigger levels: | 1,634.077 for Russell, 10,041.626 for Nasdaq; 70% of initial levels
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 61771V3G3
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