Published on 9/9/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million buffered participation notes on S&P, Dow
By Kiku Steinfeld
Chicago, Sept. 9 – Morgan Stanley Finance LLC priced $1 million of 0% Buffered participation securities due Jan. 31, 2028 linked to the S&P 500 index and Dow Jones industrial average index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing index is positive, the payout at maturity will be par plus 105% of the return of that index. Investors will receive par if the worst performing index declines by 15% or less and will lose 1% for every 1% that the worst performing index declines beyond 15%.
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: | Buffered participation securities
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Underlying indexes: | S&P 500 index and Dow Jones industrial average index
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Amount: | $1 million
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Maturity: | Jan. 31, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of worst performing index is positive, par plus 105% of that index's return; par if worst performing index declines by 15% or less; 1% loss for every 1% that worst performing index declines beyond 15%
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Initial levels: | 34,168.09 for Dow, 4,349.93 for S&P
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Buffer: | 15%
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Buffer level: | 29,042.877 for Dow, 3,697.441 for S&P, 85% of initial level
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Upside leverage: | 105%
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Cap: | None
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61773HB81
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