Published on 7/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $869,000 trigger PLUS linked to Nasdaq, Russell, S&P
Chicago, July 28 – Morgan Stanley Finance LLC priced $869,000 of 0% trigger PLUS due July 26, 2028 linked to the worst performing of the Nasdaq-100 index, 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 200% of the return of the worst performing index subject to a maximum return of par plus 99%. Investors will receive par if the return of the worst performing index is negative but ends at or above the 70% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
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: | Trigger PLUS
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Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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Amount: | $869,000
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Maturity: | July 26, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of worst performing index is positive, par plus 200% of the gain of the worst performing index subject to a maximum return of par plus 99%; par if worst performing index declines but finishes at or above trigger level; 1% loss for every 1% decline if worst performing index finishes below trigger level
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Initial levels: | 15,425.67 for Nasdaq, 1,960.255 for Russell, 4,536.34 for S&P
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Trigger levels: | 10,797.969 for Nasdaq, 1,372.179 for Russell, 3,175.438 for S&P, 70% of initial levels
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Upside leverage: | 200%
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Cap: | 99%
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Pricing date: | July 21
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Settlement date: | July 26
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1%
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Cusip: | 61775HLT2
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