Published on 8/17/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.34 million buffered PLUS linked to commodity basket
By William Gullotti
Buffalo, N.Y., Aug. 17 – Morgan Stanley Finance LLC priced $1.34 million of 0% buffered PLUS due Aug. 15, 2025 linked to the performance of an equally-weighted basket of eight commodities, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, natural gas futures, corn, soybeans, wheat, copper and zinc.
If the basket finishes positive, the payout at maturity will be par plus 200% of the basket return.
Investors will receive par if the basket declines up to 30% and lose 1% for every 1% decline beyond 30%.
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: | Buffered PLUS
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Underlying assets: | West Texas Intermediate light sweet crude oil futures contracts, Brent crude oil, natural gas, corn, soybeans, wheat, copper, zinc; equal weights
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Amount: | $1,336,000
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Maturity: | Aug. 15, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket gains, par plus 200% of basket return; if basket declines no more than 30%, par; otherwise, 1% loss for every 1% decline of the basket beyond 30%
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Initial prices: | $92.09 for WTI, $98.15 for Brent, $8.7680 for natural gas, $6.3975 for corn, $15.35 for soybeans, $8.06 for wheat, $8,065.00 for copper, $3,672.00 for zinc
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Buffer level: | 70% of initial level
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Pricing date: | Aug. 12
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Settlement date: | Aug. 17
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.85%
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Cusip: | 61773QWR6
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