Published on 2/25/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.7 million dual directional trigger PLUS on three indexes
By William Gullotti
Buffalo, N.Y., Feb. 25 – Morgan Stanley Finance LLC priced $1.7 million of 0% dual directional trigger Performance Leveraged Upside Securities due Jan. 22, 2027 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.4 times the return of the least-performing index.
If any index finishes below its initial level but each index finishes at or above its downside threshold level, 75% of its initial level, the payout will be par plus half of the absolute value of the return of the least-performing index.
If the least-performing index finishes below the downside threshold level but at or above the 50% barrier level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing index 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 Performance Leveraged Upside Securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index, Dow Jones industrial average
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| Amount: | $1.7 million
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| Maturity: | Jan. 22, 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 1.4 times the return of the least-performing index; if any index finishes below initial level but each index finishes at or above downside threshold level, par plus 50% of the absolute value of the return of least-performing index; if least-performing index finishes below downside threshold level but at or above barrier level, par; otherwise, 1% loss for every 1% that least-performing index declines from initial level
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| Initial levels: | 34,079.18 for Dow, 2,009.333 for Russell, 14,009.54 for Nasdaq
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| Downside thresholds: | 25,559.385 for Dow, 1,507.0 for Russell, 10,507.155 for Nasdaq; 75% of initial levels
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| Barrier level: | 17,039.59 for Dow, 1,004.667 for Russell, 7,004.77 for Nasdaq; 50% of initial levels
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| Pricing date: | Feb. 18
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| Settlement date: | Feb. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61773QBB4
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