Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.01 million dual directional trigger PLUS linked to indexes
New York, Feb. 27 – Morgan Stanley Finance LLC priced $4.01 million of 0% dual directional trigger PLUS 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 130% of the return of the worst performing index. Investors will receive a 0.5% gain for each 1% loss in the worst performing underlying index if that index declines but finishes above the 60% principal barrier, and they will lose 1% for every 1% decline if the worst performing index ends below its principal barrier.
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 PLUS
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Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $4,011,000
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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 return of worst performing asset is positive, par plus 130% of that index's return; 0.5% gain for each 1% loss if worst performing asset declines but ends above principal barrier; full exposure to loss if worst performing index ends below principal barrier
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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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Principal barrier: | 20,356.044 for Dow Jones industrial average, 1,109.958 for Russell 2000, 2,627.046 for S&P 500, 60% of initial level
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Upside leverage: | 130%
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Cap: | None
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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%
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Cusip: | 61771WAS7
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