Published on 2/22/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.08 million dual directional trigger jump notes linked to indexes
New York, Feb. 22 – Morgan Stanley Finance LLC priced $1.08 million of 0% dual directional trigger jump securities due June 30, 2028 linked to the S&P 500 index, Russell 2000 index and Dow Jones industrial average, 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 the greater of that return and 44%.
If the worst performing index declines but finishes at or above the 70% downside threshold, investors will receive par plus the absolute value of the return of the worst performing index. They will lose 1% for every 1% decline if the worst performing index ends below its downside threshold.
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 trigger jump securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,083,000
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| Maturity: | June 30, 2028
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus greater of worst performing index return and 44%; par plus absolute value of worst performing index return if worst performing index declines but finishes at or above the 70% downside threshold; 1% loss for every 1% that worst performing index declines if it finishes below its downside threshold
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| Initial levels: | 33,926.74 for Dow Jones industrial average, 1,849.930 for Russell 2000, 4,378.41 for S&P 500
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| Downside threshold: | 23,748.718 for Dow Jones industrial average, 1,294.951 for Russell 2000, 3,064.887 for S&P 500, 70% of initial level
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| Upside payment: | 44%
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 4.066%
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| Cusip: | 61771WAT5
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