Published on 2/4/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $363,000 dual directional buffered PLUS on Dow, Russell
By Kiku Steinfeld
Chicago, Feb. 4 – Morgan Stanley Finance LLC priced $363,000 of 0% dual directional buffered Performance Leveraged Upside Securities due Jan. 31, 2025 linked to the worse performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 107% of the gain of the lesser performing index.
If either index falls but neither falls by more than 20%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will be exposed to any decline in the lesser performing index beyond the 20% buffer.
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 Performance Leveraged Upside Securities
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Underlying indexes: | Dow Jones industrial average, Russell 2000
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Amount: | $363,000
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Maturity: | Jan. 31, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 107% of the lesser-performing index return; if lesser-performing index falls by up to 20%, par plus absolute value of the return of that index; otherwise, exposure to any decline of lesser-performing index beyond 20%
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Initial levels: | 28,722.85 for Dow and 1,658.314 for Russell
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Buffer levels: | 22,978.28 for Dow and 1,326.651 for Russell, or 80% of initial levels
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 4%
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Cusip: | 61769H7B5
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