Published on 9/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.59 million dual directional buffered PLUS linked to Dow, Russell
New York, Sept. 14 – Morgan Stanley Finance LLC priced $1.59 million of 0% dual directional buffered PLUS due June 5, 2025 linked to the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout at maturity will be par plus 117.5% of that index’s return.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines by no more than 10%.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines beyond 10%.
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 buffered PLUS
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Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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Amount: | $1,586,000
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Maturity: | June 5, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus 117.5% of that index’s return; par plus absolute value of worst performing index return if worst performing index declines by no more than 10%; otherwise, 1% loss for every 1% that worst performing index declines beyond 10%
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Initial levels: | 34,721.91 for Dow Jones industrial average, 1,899.676 for Russell 2000
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Buffer: | 10%
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Buffer levels: | 31,249.719 for Dow Jones industrial average, 1,709.708 for Russell 2000 index, 90% of initial levels
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Pricing date: | Aug. 31
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Settlement date: | Sept. 6
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.5%
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Cusip: | 61775HQT7
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