Published on 11/9/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2 million gears tied to five-index basket
By William Gullotti
Buffalo, N.Y., Nov. 9 – Morgan Stanley Finance LLC priced $2 million of 0% gears due Nov. 9, 2026 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket is comprised of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 17.5% weight, the Nikkei 225 index with a 25% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 7.5% weight.
If the basket return is greater than zero, the payout at maturity will be par of $10 plus 2.22 times the basket return. Investors will be fully exposed to any loss of the basket.
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: | Basket-linked gears
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Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (17.5% weight), Nikkei 225 (25% weight), Swiss Market (10% weight), S&P/ASX 200 (7.5% weight)
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Amount: | $2 million
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Maturity: | Nov. 9, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket return is greater than zero, par plus 2.22 times basket return; full exposure to any basket loss
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Initial levels: | 4,333.34 for Euro Stoxx 50, 29,794.37 for Nikkei, 7,279.91 for FTSE, 12,403.05 for Swiss Market, 7,427.987 for S&P/ASX
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Pricing date: | Nov. 4
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Settlement date: | Nov. 9
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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: | 61773G556
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