Published on 11/21/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $980,000 PLUS linked to ARK ETFs
By Kiku Steinfeld
Chicago, Nov. 21 – Morgan Stanley Finance LLC priced $980,000 of 0% PLUS due March 21, 2025 linked to the ARK Genomic Revolution ETF and ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the worst performing ETF is positive, the payout at maturity will be par plus 300% of the return of that index subject to a maximum return of par plus 144%. Investors will lose 1% for every 1% that the worst performing index declines.
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: | PLUS
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Underlying ETFs: | ARK Genomic Revolution ETF and ARK Innovation ETF
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Amount: | $980,000
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Maturity: | March 21, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If return of worst performing ETF is positive, par plus 300% of that ETF's return subject to a maximum return of par plus 144%; 1% loss for every 1% that worst performing ETF declines
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Initial levels: | $46.18 for Genomic, $65.77 for Innovation
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Upside leverage: | 300%
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Cap: | 144%
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Pricing date: | March 18
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Settlement date: | March 23
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1%
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Cusip: | 61773QRJ0
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