Published on 3/7/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $565,000 dual directional trigger jump notes on Russell, Dow, Nasdaq
By Kiku Steinfeld
Chicago, March 7 – Morgan Stanley Finance LLC priced $565,000 of 0% dual directional trigger jump securities due Nov. 26, 2027 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 the return of the worst performing index is positive, the payout at maturity will be par plus the greater of that return and 45%.
If the worst performing index declines but does not finish below the 60% downside threshold, investors will receive par plus 100% of the absolute value of the return of the worst performing index. They will lose 1% for every 1% decline if the worst performing index ends below its downside threshold.
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 assets: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $565,000
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| Maturity: | Nov. 26, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus greater of worst performing index return and 45%; par plus 100% of absolute value of worst performing index return if worst performing index declines but finishes at or above 60% downside threshold; otherwise, 1% loss for every 1% that worst performing index declines
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| Initial levels: | 34,098.10 for Dow, 11,724.84 for Nasdaq, 1,860.441 for Russell
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| Upside payment: | 45%
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| Downside threshold: | 20,458.86 for Dow, 7,034.904 for Nasdaq, 1,116.265 for Russell, 60% of initial level
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| Pricing date: | Nov. 22, 2022
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| Settlement date: | Nov. 28, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.15%
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| Cusip: | 61774HA57
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