Published on 10/11/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $757,000 buffered PLUS linked to Total Stock ETF
Chicago, Oct. 11 – Morgan Stanley Finance LLC priced $757,000 of 0% buffered PLUS due April 9, 2025 linked to the Vanguard Total Stock Market ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 125% of the fund return subject to a maximum return of par plus 16.15%. Investors will receive par if the fund declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
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 fund: | Vanguard Total Stock Market ETF
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Amount: | $757,000
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Maturity: | April 9, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus 125% of fund return subject to a maximum return of par plus 16.15%; par if fund declines by 10% or less; 1% loss for every 1% that fund declines beyond 10%
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Initial level: | $210.56
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Buffer level: | $189.504, 90% of initial level
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Upside leverage: | 125%
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Cap: | 16.15%
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Pricing date: | Oct. 4
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Settlement date: | Oct. 10
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.875%
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Cusip: | 61775MDY9
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