Published on 2/10/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 trigger PLUS linked to S&P, Russell
By Sarah Lizee
Olympia, Wash., Feb. 10 – Morgan Stanley Finance LLC priced $250,000 of 0% trigger Performance Leveraged Upside Securities due Jan. 31, 2025 tied to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par of $10 plus 300% of the lesser-performing index’s return, capped at par plus 52%.
If either index finishes at or below its initial level but at or above its trigger level, the payout will be par. The trigger level for each index is 70% of the initial index level.
If either index finishes below its trigger level, investors will be fully exposed to that index’s decline from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying indexes: | S&P 500 and Russell 2000 index
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| Amount: | $250,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes above initial level, par plus 300% of lesser-performing index’s return, capped at par plus 52%; if any index finishes at or below initial level but at or above trigger level, par; if either index finishes below trigger level, full exposure to decline of that index
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| Initial index levels: | 3,276.24 for S&P, 1,658.314 for Russell
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| Trigger levels: | 2,293.368 for S&P, 1,160.820 for Russell, 70% of initial levels
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| Pricing date: | Jan. 28
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.625%
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| Cusip: | 61770FAS5
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