Published on 5/10/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $785,000 dual directional trigger PLUS tied to indexes
Chicago, May 10 – Morgan Stanley Finance LLC priced $785,000 of 0% dual directional trigger PLUS due June 17, 2027 linked to the worst performing of the Dow Jones industrial average, Russell 2000 index and S&P 500 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 120% of the return of the worst performing index. Investors will receive a 1% gain for each 1% loss in the worst performing underlying index if that index declines but finishes above the 60% principal barrier and they will lose 1% for every 1% decline if the worst performing index ends below its principal barrier.
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 PLUS
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Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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Amount: | $785,000
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Maturity: | June 17, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of worst performing asset is positive, par plus 120% of that index's return; 1% gain for each 1% loss if worst performing asset declines but ends above principal barrier; full exposure to loss if worst performing index ends below principal barrier
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Initial levels: | 30,516.74 for Dow, 1,714.595 for Russell, 3,749.63 for S&P
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Principal barrier: | 18,310.044 for Dow, 1,028.757 for Russell, 2,249.778 for S&P, 60% of initial levels
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Upside leverage: | 120%
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Cap: | None
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Pricing date: | June 13, 2022
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Settlement date: | June 16, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.625%
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Cusip: | 61774DJT5
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