Published on 2/16/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.53 million dual directional trigger jump securities on three ETFs
New York, Feb. 16 – Morgan Stanley Finance LLC priced $3.53 million of 0% dual directional trigger jump securities due Feb. 15, 2028 linked to the SPDR S&P 500 ETF Trust, the iShares Russell 2000 ETF and the SPDR Dow Jones industrial average ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing ETF is flat or positive, the payout at maturity will be par plus 58%.
Investors will receive a 1% gain for each 1% loss in the worst performing ETF if that ETF declines but finishes at or above the 70% downside threshold and will lose 1% for every 1% decline if the worst performing ETF ends below its downside threshold.
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 jump securities
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| Underlying funds: | SPDR S&P 500 ETF Trust, iShares Russell 2000 ETF and SPDR Dow Jones industrial average ETF Trust
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| Amount: | $3,526,000
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| Maturity: | Feb. 15, 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 ETF is flat or positive, par plus 58%; 1% gain for each 1% loss if worst performing ETF declines but ends at or above downside threshold; otherwise, full exposure to decline of worst performing ETF from initial level
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| Initial levels: | $338.73 for SPDR Dow Jones industrial average, $190.31 for iShares Russell 2000 ETF, $408.04 for SPDR S&P 500
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| Upside payment: | 58%
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| Downside threshold: | $237.111 for SPDR Dow Jones industrial average, $133.217 for iShares Russell 2000 ETF, $285.628 for SPDR S&P 500, 70% of initial level
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| Pricing date: | Feb. 10
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| Settlement date: | Feb. 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.1%
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| Cusip: | 61774TXP2
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