Published on 6/30/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.84 million Buffered PLUS linked to S&P 500, Nasdaq-100
New York, June 30 – Morgan Stanley Finance LLC priced $2.84 million of 0% Buffered PLUS due June 26, 2025 linked to the S&P 500 index and the Nasdaq-100 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 225% of the return of that index, subject to a maximum return of par plus 30.25%.
Investors will receive par if the worst performing index declines by 10% or less and will lose 1% for every 1% that the worst performing index declines beyond 10%.
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: | S&P 500 index and Nasdaq-100 index
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Amount: | $2,843,000
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Maturity: | June 26, 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 index is positive, par plus 225% of that index's return, subject to a maximum return of par plus 30.25%; par if worst performing index declines by 10% or less; otherwise, 1% loss for every 1% that worst performing index declines beyond 10%
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Initial levels: | 14,891.48 for Nasdaq-100, 4,348.33 for S&P 500
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Buffer levels: | 13,402.332 for Nasdaq-100 index, 3,913.497 for S&P 500 index, 90% of initial levels
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Upside leverage: | 225%
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Cap: | 30.25%
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Pricing date: | June 23
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Settlement date: | June 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.7%
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Cusip: | 61775HAV9
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