Published on 3/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 buffered PLUS linked to index basket
By Kiku Steinfeld
Chicago, March 28 – Morgan Stanley Finance LLC priced $500,000 of 0% buffered PLUS due Dec. 7, 2027 linked to the performance of an unequally-weighted basket of three indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 55% weight, the Russell 2000 index with a 30% weight and the S&P MidCap 400 index with a 15% weight.
If the basket finishes positive, the payout at maturity will be par plus 118.5% of the basket return.
Investors will receive par if the basket declines up to 20% and lose 1% for every 1% decline beyond 20%.
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: | Buffered PLUS
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| Underlying indexes: | S&P 500 index (55% weight), Russell 2000 index (30% weight) and S&P MidCap 400 index (15% weight)
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| Amount: | $500,000
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| Maturity: | Dec. 7, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket gains, par plus 118.5% of basket return; if basket declines no more than 20%, par; otherwise, 1% loss for every 1% decline of the basket beyond 20%
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| Initial prices: | 4,071.70 for S&P, 1,892.839 for Russell, 2,574.00 for MidCap
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| Buffer level: | 80% of initial level
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| Pricing date: | Dec. 5
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| Settlement date: | Dec. 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61774TBD3
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