Published on 4/7/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $373,000 dual directional trigger jump notes on indexes
By Kiku Steinfeld
Chicago, April 8 – Morgan Stanley Finance LLC priced $373,000 of 0% dual directional trigger jump securities due July 12, 2028 linked to the Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average, 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 the greater of that return and 60%.
If the worst performing index declines but by no more than the 70% downside threshold investors will receive par plus 100% of the absolute value of the return of the worst performing index. They will lose 1% for every 1% decline if the worst performing index ends below its downside threshold.
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 trigger jump securities
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $373,000
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| Maturity: | July 12, 2028
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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 greater of worst performing index return and 60%; par plus 100% of absolute value of worst performing index return if worst performing index declines but by no more than the 70% downside threshold; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold
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| Initial levels: | 33,734.88 for Dow Jones industrial average, 15,036.85 for Nasdaq-100, 1,864.664 for Russell 2000
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| Upside payment: | 60%
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| Downside thresholds: | 23,614.416 for Dow Jones industrial average, 10,525.795 for Nasdaq-100, 1,305.265 for Russell 2000, 70% of initial level
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| Pricing date: | July 7, 2023
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| Settlement date: | July 12, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61775HDW4
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