Published on 4/24/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.36 million Trigger PLUS linked to S&P, Nasdaq, Russell
By Kiku Steinfeld
Chicago, April 25 – Morgan Stanley Finance LLC priced $1.36 million of 0% Trigger Performance Leveraged Upside Securities due Oct. 1, 2026 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing index is positive, the payout at maturity will be par plus 400% of the return of the worst performing index subject to a maximum return of par plus 44%. Investors will receive par if the if worst performing index declines but finishes at or above the 65% trigger level and will lose 1% for every 1% decline below 65%.
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 index: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $1,363,000
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Maturity: | Oct. 1, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of worst performing index is positive, par plus 400% of the gain of the worst performing index subject to a maximum return of par plus 44%; par if worst performing index declines but finishes at or above trigger level; 1% loss for every 1% decline if worst performing index finishes below trigger level
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Initial levels: | 15,204.83 for Nasdaq, 2,281.003 for Russell, 4,443.11 for S&P
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Trigger levels: | 9,883.140 for Nasdaq, 1,482.652 for Russell, 2,888.022 for S&P, 65% of initial levels
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Upside leverage: | 400%
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Cap: | 44%
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Pricing date: | Sept. 27, 2021
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Settlement date: | Sept. 30, 2021
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 4.228%
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Cusip: | 61773FVG5
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