Published on 3/15/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.84 million dual directional trigger participation notes on Dow, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, March 15 – Morgan Stanley Finance LLC priced $1.84 million of 0% dual directional trigger participation securities due Aug. 31, 2023 linked to the worst performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final level of each index is greater than the initial index level, the payout at maturity will be par plus the laggard index return, capped at $1,330 per security.
If either index declines by 20% or less, the payout will be par plus the absolute value of the lesser performing index’s return.
If either index declines by more than 20%, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional trigger participation securities
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| Underlying indexes: | Dow Jones industrial average and Nasdaq-100
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| Amount: | $1,839,000
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| Maturity: | Aug. 31, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final level of each index is greater than the initial index level, par plus laggard index return, capped at $1,330 per security; if either index declines by 20% or less, par plus the absolute value of the lesser performing index’s return; if either index declines by more than 20%, 1% loss for every 1% that the lesser performing index declines from its initial level
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| Initial levels: | 33,892.6 for Dow, 14,237.81 for Nasdaq
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| Trigger levels: | 27,114.08 for Dow, 11,390.248 for Nasdaq, 80% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61773H3K3
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