Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.37 million dual directional enhanced trigger jump securities
By William Gullotti
Buffalo, N.Y., April 23 – Morgan Stanley Finance LLC priced $1.37 million of 0% dual directional enhanced trigger jump securities due April 16, 2026 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the least performing index finishes at or above its 90% upside threshold, the payout at maturity will be par plus 5%.
If the final index level of the worst performer declines by more than 10%, but not below its 60% downside threshold, the payout will be par plus 2.1 times the absolute value of the return of that index.
Otherwise, investors will lose 1% for every 1% that the worst performer declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Dual directional enhanced trigger jump securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average, Nasdaq-100 index
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| Amount: | $1,365,000
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| Maturity: | April 16, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the least performing index finishes at or above upside threshold, par plus 5%; if the final index level of the least performing index is less than the upside threshold but greater than or equal to downside threshold, par plus 2.1 times the absolute value of the return of that index; otherwise, 1% loss for every 1% decline of the worst performer from its initial level
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| Initial levels: | 38,459.08 for Dow, 18,307.98 for Nasdaq, 2,042.604 for Russell
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| Upside thresholds: | 34,613.172 for Dow, 16,477.182 for Nasdaq, 1,838.344 for Russell; 90% of initial levels
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| Downside thresholds: | 23,075.448 for Dow, 10,984.788 for Nasdaq, 1,225.562 for Russell; 60% of initial levels
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| Pricing date: | April 11
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| Settlement date: | April 16
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61776LPD3
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