Published on 3/1/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $10 million capped allocation notes linked to index basket
By Wendy Van Sickle
Columbus, Ohio, March 1 – Morgan Stanley Finance LLC priced $10 million of capped allocation notes due March 1, 2029 linked to a performance-weighted basket consisting of the Euro Stoxx 50 index, the Nikkei 225 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket component with the best performance will be allocated a weighting of 60%, the basket component with the second-best performance will be allocated a weighting of 30% and the basket component with the worst performance will be allocated a weighting of 10%.
If the final basket level is greater than or equal to the initial basket level, the payout at maturity will be par plus the basket’s return, capped at par plus 74%.
Otherwise, investors will receive par.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Capped allocation notes
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| Underlying basket: | Euro Stoxx 50 index, Nikkei 225 index, S&P 500 index; best performer will be given 60% weight, second best will be given 30% weight and least performer will be given 10% weight
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| Amount: | $10 million
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| Maturity: | March 1, 2029
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final basket level is greater than or equal to initial basket level, par plus basket return, capped at par plus 74%; otherwise, par
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| Initial levels: | 4,864.29 for Stoxx, 39,233.71 for Nikkei, 5,069.53 for S&P
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| Pricing date: | Feb. 26
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| Settlement date: | Feb. 29
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| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61771WT40
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