Published on 1/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $542,000 dual directional trigger participation notes on two indexes
By William Gullotti
Buffalo, N.Y., Jan. 12 – Morgan Stanley Finance LLC priced $542,000 of 0% dual directional trigger participation securities due Aug. 31, 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 the worst performer declines but finishes at or above its 70% trigger level, the payout will be par plus 0.5 times the absolute value of that index’s return.
Otherwise, investors will lose 1% for every 1% that the worst performer 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: | Nasdaq-100 index, Russell 2000 index
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| Amount: | $542,000
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| Maturity: | Aug. 31, 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 the laggard index return; if the worst performer declines but finishes at or above trigger level, par plus 0.5 times the absolute value of that index’s return; otherwise, 1% loss for every 1% decline of the worst performer from its initial level
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| Initial levels: | 2,213.979 for Russell, 15,278.52 for Nasdaq
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| Trigger levels: | 1,549.785 for Russell, 10,694.964 for Nasdaq; 70% of initial levels
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| Pricing date: | Aug. 26
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| Settlement date: | Aug. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.25%
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| Cusip: | 61773FLD3
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