Published on 4/19/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $933,000 dual directional trigger jump notes on indexes
By Kiku Steinfeld
Chicago, April 19 – Morgan Stanley Finance LLC priced $933,000 of 2% dual directional trigger jump securities due Dec. 23, 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.
Each quarter during the first four years, the notes will pay 2% per year. No interest is payable during the final year of the notes.
If the return of the worst performing index is positive, the payout at maturity will be par plus the greater of that return and 47.5%.
If the worst performing index declines but by no more than the 75% 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
|
| 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: | $933,000
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| Maturity: | Dec. 23, 2027
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| Coupon: | 2% per year, payable quarterly during the first four years
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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 47.5%; par plus 100% of absolute value of worst performing index return if worst performing index declines but by no more than the 75% downside threshold; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold
|
| Initial levels: | 32,849.74 for Dow, 11,072.42 for Nasdaq, 1,748.017 for Russell
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| Upside payment: | 47.5%
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| Downside threshold: | 24,637.305 for Dow, 8,304.315 for Nasdaq, 1,311.013 for Russell, 75% of initial level
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 23
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61774TFG2
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