Published on 7/3/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 dual directional buffered participation notes on indexes
Kiku Steinfeld
Chicago, July 5 – Morgan Stanley Finance LLC priced $250,000 of 0% dual directional buffered participation securities due Dec. 26, 2025 linked to the Nasdaq-100 index and Russell 2000 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 the return of the worst performing index subject to a maximum return of par plus 60%.
Investors will receive par plus 50% of the absolute return of the worst performing index if it declines but by no more than the 20% buffer. Investors will be exposed to any decline in the worst performing index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Dual directional buffered participation securities
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| Underlying indexes: | Nasdaq-100 index and Russell 2000 index
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| Amount: | $250,000
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| Maturity: | Dec. 26, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If return of worst performing index is positive, par plus that index's return subject to a maximum return of par plus 60%; par plus half absolute return of worst performing index if it declines but by no more than 20%; exposure to loss of worst performing index beyond buffer
|
| Initial levels: | 16,180.14 for Nasdaq, 2,221.903 for Russell
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| Buffer levels: | 12,944.112 for Nasdaq, 1,777.522 for Russell, 80% of initial levels
|
| Upside leverage: | 100%
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| Cap: | 60%
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| Absolute return: | 50%
|
| Pricing date: | Dec. 22, 2021
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| Settlement date: | Dec. 28, 2021
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.65%
|
| Cusip: | 61773HLD9
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