Published on 3/19/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $490,000 Buffered PLUS linked to Dow Jones industrial, S&P 500
New York, March 19 – Morgan Stanley Finance LLC priced $490,000 of 0% Buffered PLUS due July 6, 2027 linked to the Dow Jones industrial average and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing index is positive, the payout at maturity will be par plus 120% of the worst performing index return. Investors will receive par if the worst performing index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
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 indexes: | Dow Jones industrial average and S&P 500 index
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Amount: | $490,000
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Maturity: | July 6, 2027
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains, par plus 120% of worst performing index return; par if worst performing index declines by 20% or less; 1% loss for every 1% that worst performing index declines beyond 20%
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Initial levels: | 34,407.60 for Dow Jones industrial average, 4,450.38 for S&P 500
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Buffer: | 20%
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Buffer level: | 27,526.08 for Dow Jones industrial average, 3,560.304 for S&P 500 index, 80% of initial level
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Upside leverage: | 120%
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Cap: | None
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Pricing date: | June 30, 2023
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Settlement date: | July 6, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61771WBV9
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