Published on 2/23/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.75 million trigger PLUS linked to index basket
By William Gullotti
Buffalo, N.Y., Feb. 23 – Morgan Stanley Finance LLC priced $4.75 million of 0% trigger Performance Leveraged Upside Securities due Feb. 21, 2029 linked to an equally weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Russell 2000 index and the S&P 500 index.
The notes are guaranteed by Morgan Stanley.
If the final basket level is greater than or equal to the initial level, the payout at maturity will be par plus 200% of the return, subject to a maximum payout of par plus 61.6%.
If the basket declines by 25% or less, the payout will be par. If the basket declines by more than 25%, investors will lose 1% for every 1% that the basket declines from its initial level.
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 Performance Leveraged Upside Securities
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| Underlying indexes: | Russell 2000 index, S&P 500 index; equal weights
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| Amount: | $4,751,000
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| Maturity: | Feb. 21, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final basket level is greater than initial level, par plus 200% of basket return, capped at par plus 61.6%; if final basket level is less than initial basket level but greater than or equal to trigger level, par; if final basket level is less than trigger level, 1% loss for every 1% that basket declines from initial level
|
| Initial index levels: | 2,061.478 for Rusell, 5,029.73 for S&P
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| Trigger level: | 75% of initial level
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
|
| Cusip: | 61771WYH5
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