Published on 3/3/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $317,000 trigger jump securities linked to Dow, S&P
By Kiku Steinfeld
Chicago, March 4 – Morgan Stanley Finance LLC priced $317,000 of 0% trigger jump securities due Dec. 29, 2028 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 the greater of that index's return and 55%. Investors will receive par if the worst performing index declines but finishes at or above the 80% trigger level and will lose 1% for every 1% that the worst performing index declines if it finishes below the trigger level.
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: | Trigger jump securities
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Underlying indexes: | Dow Jones industrial average and S&P 500 index
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Amount: | $317,000
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Maturity: | Dec. 29, 2028
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of worst performing index is positive, par plus greater of return of worst performer and 55%; par if worst performing index declines but finishes at or above trigger level; 1% loss for every 1% that worst performing index declines if it finishes below trigger level
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Initial levels: | 33,727.43 for Dow Jones industrial average, 4,348.33 for S&P 500
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Upside payment: | 55%
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Triggers: | 26,981.944 for Dow Jones industrial average, 3,478.664 for S&P 500, 80% of initial level
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Pricing date: | June 23, 2023
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Settlement date: | June 28, 2023
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3%
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Cusip: | 61774X5G4
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