Published on 7/14/2023 in the Prospect News Structured Products Daily.
New Issue: MS sells $954,000 equity-linked partial principal at risk notes on S&P, Russell
By Kiku Steinfeld
Chicago, July 14 – Morgan Stanley Finance LLC priced $954,000 of 0% equity-linked partial principal at risk securities due Feb. 15, 2028 linked to the performance of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus 150% of the return of the laggard index, subject to a maximum payout of par plus 61.5%.
If the laggard index declines, investors will receive par plus the return of the laggard index, subject to a minimum return of 95% of par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Equity-linked partial principal at risk securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index
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| Amount: | $954,000
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| Maturity: | Feb. 15, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes above initial level, par plus 150% of laggard index’s return, capped at par plus 61.5%; otherwise, par plus least-performing index return, subject to minimum payout of 95% of par
|
| Initial levels: | 1,918.814 for Russell, 4,090.46 for S&P
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61774TZK1
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