Published on 6/28/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.25 million trigger gears on S&P MidCap 400
By Kiku Steinfeld
Chicago, June 28 – Morgan Stanley Finance LLC priced $1.25 million of 0% trigger gears due Dec. 18, 2026 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par of $10 plus 1.09 times any index gain.
Investors will receive par if the index declines by up to 25% and be fully exposed to the index’s decline from its initial level if it declines by more than 25%.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as placement agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Trigger gears
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Underlying index: | S&P MidCap 400
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Amount: | $1,246,860
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Maturity: | Dec. 18, 2026
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.09 times any index gain; par if index declines by 25% or less; otherwise, full exposure to the index’s decline from its initial level
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Initial level: | 2,766.65
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Downside threshold: | 2,074.99; 75% of initial level
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Pricing date: | Dec. 15, 2021
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Settlement date: | Dec. 20, 2021
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Agent: | Morgan Stanley & Co. LLC
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Placement agent: | UBS Financial Services Inc.
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Fees: | 0%
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Cusip: | 61773N262
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