Published on 10/29/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 dual directional buffered PLUS on S&P, Russell
By Taylor Fox
New York, Oct. 29 – Morgan Stanley Finance LLC priced $250,000 of 0% dual directional buffered Performance Leveraged Upside Securities due April 4, 2023 linked to the worst performing of the S&P 500 index and the Nasdaq 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus two times the gain of the lesser performing index, capped at par plus 28%.
If either index falls but neither falls by more than 10%, the payout will be par plus the absolute value of the return of the lesser performing index.
Otherwise, investors will be exposed to any decline in the lesser performing index beyond the 10% buffer.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered Performance Leveraged Upside Securities
|
| Underlying indexes: | S&P 500, Nasdaq 100 index
|
| Amount: | $250,000
|
| Maturity: | April 4, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index gains, par plus two times the lesser-performing index return capped at par plus 28%; if lesser-performing index falls by up to 10%, par plus absolute value of the return of that index; otherwise, exposure to any decline of lesser-performing index beyond 10%
|
| Initial levels: | 3,363 for S&P, 11,418.06 for Nasdaq
|
| Buffer levels: | 3,026.7 for S&P, 10,276.254 for Nasdaq; 90% of initial levels
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61771BU85
|
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