Published on 6/27/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $427,000 dual directional trigger PLUS on indexes
By Kiku Steinfeld
Chicago, June 27 – Morgan Stanley Finance LLC priced $427,000 of 0% dual directional trigger PLUS due Feb. 3, 2028 linked to the Dow Jones industrial average, Russell 2000 index and Nasdaq-100 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 162% 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 70% principal barrier level, and they will lose 1% for every 1% decline if the worst performing index ends below its principal barrier level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger PLUS
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000 index and Nasdaq-100 index
|
| Amount: | $427,000
|
| Maturity: | Feb. 3, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of worst performing asset is positive, par plus 162% of that index's return; 1% gain for each 1% loss if worst performing asset declines but ends above principal barrier level; full exposure to loss if worst performing index ends below principal barrier level
|
| Initial levels: | 34,086.04 for Dow, 12,101.93 for Nasdaq, 1,931.945 for Russell
|
| Principal barrier levels: | 23,860.228 for Dow, 8,471.351 for Nasdaq, 1,352.362 for Russell, 70% of initial levels
|
| Upside leverage: | 162%
|
| Cap: | None
|
| Pricing date: | Jan. 31, 2023
|
| Settlement date: | Feb. 3, 2023
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.698%
|
| Cusip: | 61774THS4
|
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