Published on 10/2/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.4 million trigger PLUS linked to Dow, S&P, Russell
By Kiku Steinfeld
Chicago, Oct. 4 – Morgan Stanley Finance LLC priced $5.4 million of 0% trigger Performance Leveraged Upside Securities due Sept. 22, 2026 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus 135.25% of any gain of the worst performing index.
If either index falls but each remains at or above the 60% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
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 Performance Leveraged Upside Securities
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $5.4 million
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Maturity: | Sept. 22, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst-performing index gains, par plus 135.25% of the return of the worst performing index; if either index falls by up to trigger level, par; otherwise, full exposure to any losses of worst performing index
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Initial level: | 4,432.99 for S&P, 2,236.871 for Russell, 34,584.88 for Dow
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Trigger levels: | 2,659.794 for S&P, 1,342.123 for Russell, 20,750.928 for Dow; 60% of initial levels
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Pricing date: | Sept. 17
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Settlement date: | Sept. 22
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61773FE41
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