Published on 11/8/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.36 million Trigger PLUS linked to two ETFs
New York, Nov. 8 – Morgan Stanley Finance LLC priced $1.36 million of 0% Trigger PLUS due Sept. 28, 2026 linked to the SPDR Dow Jones industrial average ETF Trust and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing ETF is positive, the payout at maturity will be par plus 157% of the return of that ETF.
Investors will receive par if the return of the worst performing ETF is negative but ends at or above the 70% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
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: | Trigger PLUS
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Underlying ETFs: | SPDR Dow Jones industrial average ETF Trust and iShares Russell 2000 ETF
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Amount: | $1,361,000
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Maturity: | Sept. 28, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of worst performing fund is positive, par plus 157% of the gain of that fund; par if worst performing fund declines but finishes at or above trigger level; otherwise, 1% loss for every 1% decline of worst performing fund from initial level
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Initial levels: | $295.86 for SPDR Dow Jones industrial average, $167.31 for iShares Russell 2000 ETF
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Trigger level: | $207.102 for SPDR Dow Jones industrial average, $117.117 for iShares Russell 2000 ETF, 70% of initial level
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Upside leverage: | 157%
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Pricing date: | Sept. 23
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Settlement date: | Sept. 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.25%
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Cusip: | 61774HGG7
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