Published on 1/31/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.19 million dual directional trigger participation notes on indexes
By William Gullotti
Buffalo, N.Y., Jan. 31 – Morgan Stanley Finance LLC priced $2.19 million of 0% dual directional trigger participation securities due Jan. 29, 2027 linked to the worst performing of the Dow Jones industrial average, the S&P 500 index and the Russell 2000 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 1.1 times the laggard index return.
If the worst performer declines but finishes at or above its 75% 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: | S&P 500 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $2,186,000
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| Maturity: | Jan. 29, 2027
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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 1.1 times 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: | 34,168.09 for Dow, 4,349.93 for S&P, 1,976.464 for Russell
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| Trigger levels: | 22,209.259 for Dow, 2,827.455 for S&P, 1,284.702 for Russell; 65% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.041%
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| Cusip: | 61773HWE5
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