Published on 12/30/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.64 million trigger jump securities on Dow, Russell
By William Gullotti
Buffalo, N.Y., Dec. 30 – Morgan Stanley Finance LLC priced $2.64 million of 0% trigger jump securities due June 25, 2027 linked to the least performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the return of the least performing index and the upside payment of 40%.
If any index falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the worst performer 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 jump securities
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Underlying indexes: | Russell 2000 index, Dow Jones industrial average
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Amount: | $2,638,000
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Maturity: | June 25, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above initial level, par plus greater of return of least performing index and 40%; if any index falls by up to 25%, par; otherwise, full exposure to decline of worst performing index from initial level
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Initial levels: | 2,221.903 for Russell, 35,753.89 for Dow
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Downside threshold levels: | 1,666.427 for Russell, 26,815.418 for Dow; 75% of initial level
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Pricing date: | Dec. 22
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Settlement date: | Dec. 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3%
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Cusip: | 61773HQW2
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