Published on 6/9/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million dual directional buffered jump notes linked to indexes
By William Gullotti
Buffalo, N.Y., June 9 – Morgan Stanley Finance LLC priced $1 million of 0% dual directional buffered jump securities due May 16, 2024 linked to the worst performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par plus 25%.
If the final level of any index is less than its initial level but the final level of any index is greater than or equal to its downside threshold level, 85% of its initial level, the payout will be par plus the absolute value of the lesser-performing index’s return.
If the final level of any index is less than its downside threshold level, investors will lose 1% for every 1% that the lesser-performing index declines beyond 15%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered jump securities
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average, Russell 2000
|
| Amount: | $1 million
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| Maturity: | May 16, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above initial level, par plus 25%; if final level of any index is less than initial level but final level of each index is greater than or equal to downside threshold level, par plus absolute value of lesser-performing index’s return; if final level of any index is less than downside threshold level, 1% loss for every 1% that lesser-performing index declines beyond 15%
|
| Initial levels: | 13,109.15 for Nasdaq, 34,021.45 for Dow, 2,170.95 for Russell
|
| Downside threshold levels: | 11,142.778 for Nasdaq, 28,918.233 for Dow, 1,845.308 for Russell; 85% of initial levels
|
| Pricing date: | May 13
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| Settlement date: | May 18
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61771VN71
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