Published on 5/20/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.03 million trigger PLUS linked to index basket
By William Gullotti
Buffalo, N.Y., May 20 – Morgan Stanley Finance LLC priced $1.03 million of 0% trigger Performance Leveraged Upside Securities due May 18, 2027 linked to an equally-weighted index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index.
The notes are guaranteed by Morgan Stanley.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 120% of the basket return.
If the basket declines by 40% or less, the payout will be par. If the basket declines by more than 40%, 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: | Dow Jones industrial average, Russell 2000 index, S&P 500 index; equal weights
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| Amount: | $1,025,000
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| Maturity: | May 18, 2027
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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 120% of basket return; 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
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| Initial index levels: | 32,196.66 for Dow, 1,792.666 for Russell, 4,023.89 for S&P
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| Trigger level: | 60% of initial level
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| Pricing date: | May 13
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| Settlement date: | May 18
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61774DCY1
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