Published on 7/8/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.29 million trigger PLUS linked to basket
By Kiku Steinfeld
Chicago, July 8 – Morgan Stanley Finance LLC priced $1.29 million of 0% trigger Performance Leveraged Upside Securities due Dec. 28, 2026 linked to a basket that consists of the S&P 500 index with a 40% weight, the iShares MSCI EAFE ETF with a 20% weight, the iShares MSCI Emerging Markets ETF with a 10% weight and the Russell 2000 index with 30% weight, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the basket is positive, the payout at maturity will be par plus 104.5% of the return of the basket. Investors will receive par if the return of the basket is negative but ends at or above the 65% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying basket: | S&P 500 index (40% weight), Russell 2000 index (30% weight), iShares MSCI EAFE ETF (20% weight), iShares MSCI Emerging Markets ETF (10% weight)
|
| Amount: | $1,285,000
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| Maturity: | Dec. 28, 2026
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of worst performing index is positive, par plus 104.5% of the gain of the worst performing index; par if worst performing index declines but finishes at or above trigger level; 1% loss for every 1% index decline if worst performing index finishes below trigger level
|
| Initial level: | 4,696.56 for S&P, 2,221.903 for Russell, $78.05 for EAFE, $48.47 for EM
|
| Trigger level: | 65% of initial basket level
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| Upside leverage: | 104.5%
|
| Cap: | None
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| Pricing date: | Dec. 22
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| Settlement date: | Dec. 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.625%
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| Cusip: | 61773HVV8
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