Published on 2/14/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $715,000 commodity-linked notes on basket
Chicago, Feb. 14 – Morgan Stanley Finance LLC priced $715,000 of 0% commodity-linked notes due Nov. 2, 2023 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.
The payout at maturity will be par plus the basket return capped at par plus 25% if the basket return is positive. Otherwise, investors will be fully exposed to the losses of the basket.
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: | Commodity-linked notes
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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: | $715,000
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Maturity: | Nov. 2, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus basket return capped at par plus 25% if basket return is positive; otherwise, full exposure to losses of basket
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Initial prices: | $104.69 for WTI, $107.14 for Brent, $7.244 for natural gas, $8.135 for corn, $16.8475 for soybeans, $10.5575 for wheat, $9,820.50 for copper, $4,212.00 for zinc
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Pricing date: | April 29, 2022
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Settlement date: | May 4, 2022
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.25%
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Cusip: | 61773QVF3
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