Published on 2/15/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.05 million dual directional buffered securities on S&P, Nasdaq
By William Gullotti
Buffalo, N.Y., Feb. 15 – Morgan Stanley Finance LLC priced $2.05 million of 0% dual directional buffered participation securities due April 13, 2023 linked to the worse performing of the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above the initial level, the payout at maturity will be par plus the gain of the laggard index up to a maximum payout of par plus 15.5%.
If either index falls but not by more than 10%, the payout will be par plus 1.5 times the absolute value of the return of the laggard index.
Otherwise, investors will lose 1% for each 1% loss of the worst performing index 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 participation securities
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| Underlying index: | S&P 500 index, Nasdaq-100 index
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| Amount: | $2.05 million
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| Maturity: | April 13, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each is greater than initial index level, par plus of lesser-performing index return, up to a maximum payout of par plus 15.5%; if lesser-performing index falls by up to 90% buffer level, par plus 1.5 times absolute value of lesser-performing index return; otherwise, 1% loss for each 1% loss of the worst performing index beyond 10%
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| Initial levels: | 4,504.08 for S&P, 14,705.64 for Nasdaq
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| Buffer levels: | 4,053.672 for S&P, 13,235.076 for Nasdaq; 90% of initial levels
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 0.375%
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| Cusip: | 61773H6W4
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