Published on 1/6/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $8.67 million dual directional buffered PLUS linked to S&P 500
New York, Jan. 6 – Morgan Stanley Finance LLC priced $8.67 million of 0% dual directional buffered PLUS due Dec. 27, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains, the payout will be par plus 125% of the index return, subject to a maximum return of par plus 18.83%.
If the index declines by no more than 20%, investors will receive a 1.25% gain for each 1% decline.
Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
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 PLUS
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| Underlying index: | S&P 500 index
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| Amount: | $8,666,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index gains, par plus 125% of index return, subject to a maximum return of par plus 18.83%; if index declines by no more than 20%, 1.25% gain for each 1% decline; otherwise, 1% loss for every 1% that index declines beyond 20%
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| Initial level: | 3,844.82
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| Upside leverage: | 125%
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| Cap: | 18.83%
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| Buffer: | 20%
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| Buffer level: | 3,075.856, 80% of initial level
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| Pricing date: | Dec. 23
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| Settlement date: | Dec. 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.35%
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| Cusip: | 61774TAY8
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