Published on 11/5/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.02 million dual directional buffered PLUS on indexes
By William Gullotti
Buffalo, N.Y., Nov. 5 – Morgan Stanley Finance LLC priced $1.02 million of 0% dual directional buffered Performance Leveraged Upside Securities due July 31, 2026 linked to the performance 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 140% of the gain of the least performing index.
If the worst performer declines by up to 15%, the payout will be par plus the absolute value of the return of the worst performing index. Otherwise, investors will lose 1% for every 1% decline of the worst performer beyond 15%.
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 index
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| Amount: | $1,022,000
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| Maturity: | July 31, 2026
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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 140% of the lesser-performing index return; if worst performing index falls by up to buffer level, par plus absolute value of the return of that index; otherwise, lose 1% for every 1% decline of the worst performer below buffer
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| Initial levels: | 15,018.1 for Nasdaq, 34,930.93 for Dow, 2,224.957 for Russell
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| Buffer levels: | 12,765.385 for Nasdaq, 29,691.291 for Dow, 1,891.213 for Russell; 85% of initial levels
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| Pricing date: | July 28
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| Settlement date: | Aug. 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61773FJY0
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