Published on 8/21/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $882,000 market-linked leveraged upside participation notes
Chicago, Aug. 21 – Morgan Stanley Finance LLC priced $882,000 of 0% market-linked securities – leveraged upside participation and contingent downside due Aug. 3, 2028 linked to the lowest performing of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index’s final level is greater than its initial level, payout at maturity will be par plus 172% of the least performing index’s return.
Investors will receive par if any index falls by up to 25%. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Market-linked securities – leveraged upside participation and contingent downside
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| Underlying indexes: | Dow Jones industrial average, Russell 2000 index, S&P 500 index
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| Amount: | $882,000
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| Maturity: | Aug. 3, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par plus 172% of the return of the least performing index; par if any index falls by up to 25%; otherwise, full exposure to decline of worst performer from its initial level
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| Initial levels: | 32,845.13 for Dow, 1,885.23 for Russell, 4,130.29 for S&P
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| Threshold levels: | 24,633.8475 for Dow, 1,413.9225 for Russell, 3,097.7175 for S&P; 75% of initial levels
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| Pricing date: | July 29, 2022
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| Settlement date: | Aug. 3, 2022
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| Agents: | Wells Fargo Securities LLC and Morgan Stanley & Co. LLC
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| Fees: | 3.82%
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| Cusip: | 61774DVW4
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