Published on 3/22/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.95 million dual directional trigger jump notes on indexes
By Kiku Steinfeld
Chicago, March 22 – Morgan Stanley Finance LLC priced $1.95 million of 0% dual directional trigger jump securities due Sept. 22, 2026 linked to the Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its upside threshold level, 110% of initial level, the payout at maturity will be par plus 50%.
If each index finishes below its upside threshold level but no lower than its initial level, the payout will be par.
If the worst performing index falls but finishes at or above its 70% barrier level, the payout will be par plus the absolute value of that index’s return.
If the worst performing index falls below its barrier level but no lower than its 60% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the worst performing index 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: | Dual directional trigger jump securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1.95 million
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| Maturity: | Sept. 22, 2026
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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 its upside threshold, par plus 50%; if each index finishes below its upside threshold level but no lower than its initial level, par; if worst performer falls but finishes at or above its barrier level, par plus absolute value of that index’s return; if worst performer falls below its barrier level but no lower than its downside threshold, par; otherwise, full exposure to loss of worst performer
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| Initial levels: | 34,584.88 for Dow, 15,333.47 for Nasdaq, 2,236.871 for Russell
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| Upside threshold levels: | 38,043.368 for Dow, 16,866,817 for Nasdaq, 2,460.558 for Russell; 110% of initial levels
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| Barrier levels: | 24,209.416 for Dow, 10,733.429 for Nasdaq, 1,565.810 for Russell; 70% of initial levels
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| Downside threshold levels: | 20,750.928 for Dow, 9,200.082 for Nasdaq, 1,342.123 for Russell; 60% of initial levels
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| Pricing date: | Sept. 17, 2021
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| Settlement date: | Sept. 22, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61773FYS6
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