Published on 3/28/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $530,000 trigger PLUS linked to Dow, Russell, Nasdaq
By William Gullotti
Buffalo, N.Y., March 28 – Morgan Stanley Finance LLC priced $530,000 of 0% trigger Performance Leveraged Upside Securities due May 2, 2024 linked to the worst performing of the Dow Jones industrial average, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 160% of the lesser-performing index’s return.
If the final level of any index is less than or equal to its initial level but the final level of each index is greater than or equal to its 70% trigger level, the payout will be par.
If the final level of any index is less than its trigger level, investors will be fully exposed to the decline of the lesser-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: | Trigger Performance Leveraged Upside Securities
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average, Russell 2000 index
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| Amount: | $530,000
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| Maturity: | May 2, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 160% of lesser-performing index’s return; if final level of any index is less than or equal to initial level but final level of each index is greater than or equal to trigger level, par; if final level of any index is less than trigger level, exposure to decline of lesser-performing index from initial level
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| Initial levels: | 33,984.93 for Dow, 2,301.267 for Russell, 13,960.28 for Nasdaq
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| Trigger levels: | 23,789.451 for Dow, 1,610.887 for Russell, 9,772.196 for Nasdaq; 70% of initial levels
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| Pricing date: | April 27, 2021
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| Settlement date: | April 30, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61771VC24
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