Published on 10/25/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $335,000 enhanced buffered jump securities linked to Dow, S&P
By Angela McDaniels
Tacoma, Wash., Oct. 25 – Morgan Stanley Finance LLC priced $335,000 of 0% enhanced buffered jump securities due Sept. 28, 2028 linked to the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level of each index is greater than or equal to its downside threshold level, 90% of its initial level, the payout at maturity will be par plus the greater of the worst performing index’s return and 55%.
If the final index level of either index is less than its downside threshold level but the final index level of each index is greater than or equal to 80% of its initial index level, the payout will be par.
If the final index level of either index is less than its downside threshold level by more than 10%, meaning that either underlying index has declined by more than 20%, investors will lose 1% for every 1% that the worst performing 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: | Enhanced buffered jump securities
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| Underlying indexes: | Dow Jones industrial average and S&P 500 index
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| Amount: | $335,000
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| Maturity: | Sept. 28, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above downside threshold level, par plus greater of worst performing index return and 55%; par if worst performing index finishes below downside threshold but at or above 80% of initial level; otherwise, 1% loss for every 1% that worst performing index declines beyond 20%
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| Initial levels: | 29,590.41 for Dow Jones industrial average, 3,693.23 for S&P 500
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| Downside thresholds: | 26,631.369 for Dow Jones industrial average, 3,323.907 for S&P 500, 90% of initial level
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| Upside payment: | 55%
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| Pricing date: | Sept. 23, 2022
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| Settlement date: | Sept. 28, 2022
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61774HGZ5
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