Published on 8/23/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $841,000 trigger PLUS linked to mixed basket of indexes, ETFs
By William Gullotti
Buffalo, N.Y., Aug. 23 – Morgan Stanley Finance LLC priced $841,000 of 0% trigger Performance Leveraged Upside Securities due Aug. 3, 2027 linked to a weighted basket of indexes and ETFs, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 40% weight, the Russell 2000 index with a 20% weight, the Nasdaq-100 index with a 20% weight, the iShares MSCI EAFE ETF with a 10% weight and the iShares MSCI Emerging Markets ETF with a 10% weight.
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 132% of the basket return. If the basket declines by 30% or less, the payout will be par. If the basket declines by more than 30%, 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 assets: | S&P 500 index (40% weight), Russell 2000 index (20% weight), Nasdaq-100 index (20% weight), iShares MSCI EAFE ETF (10% weight), iShares MSCI Emerging Markets ETF (10% weight)
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| Amount: | $841,000
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| Maturity: | Aug. 3, 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 132% 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: | 4,130.29 for S&P, 1,885.23 for Russell, 12,947.97 for Nasdaq, $65.72 for EAFE ETF, $39.96 for EM ETF
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| Trigger level: | 70% of initial level
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| Pricing date: | July 29
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| Settlement date: | Aug. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61774DG43
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