Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.17 million Trigger PLUS linked to three ETFs
New York, Feb. 27 – Morgan Stanley Finance LLC priced $2.17 million of 0% Trigger PLUS due Feb. 7, 2029 linked to the Vanguard Real Estate ETF, the Energy Select Sector SPDR Fund and the SPDR Gold Trust, 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 650% 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
|
Guarantor: | Morgan Stanley
|
Issue: | Trigger PLUS
|
Underlying ETFs: | Vanguard Real Estate ETF, Energy Select Sector SPDR Fund and SPDR Gold Trust
|
Amount: | $2.17 million
|
Maturity: | Feb. 7, 2029
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If return of worst performing fund is positive, par plus 650% 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
|
Initial levels: | $188.61 for SPDR Gold Trust, $84.35 for Vanguard Real Estate ETF, $83.52 for Energy Select Sector SPDR Fund
|
Trigger level: | $132.027 for SPDR Gold Trust, $59.045 for Vanguard Real Estate ETF, $58.464 for Energy Select Sector SPDR Fund, 70% of initial levels
|
Upside leverage: | 650%
|
Pricing date: | Feb. 2
|
Settlement date: | Feb. 7
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 0.75%
|
Cusip: | 61771WQK7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.