Published on 8/23/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.09 million buffered PLUS tied to Russell, S&P
By William Gullotti
Buffalo, N.Y., Aug. 23 – Morgan Stanley Finance LLC priced $4.09 million of 0% buffered Performance Leveraged Upside Securities due June 26, 2026 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above the initial level, the payout at maturity will be par plus 140% of the gain of the worse performing index, capped at par plus 46%.
If either index falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the index beyond 20%.
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 Performance Leveraged Upside Securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $4,086,000
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Maturity: | June 26, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 140% of return of worse performing index subject to a maximum return of par plus 46%; if either index falls by up to 20%, par; otherwise, 1% loss for each 1% decline beyond 20%
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Initial levels: | 4,241.84 for S&P, 2,303.469 for Russell
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Buffer levels: | 3,393.472 for S&P, 1,842.775 for Russell, 80% of initial levels
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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: | 0.625%
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Cusip: | 61773FAH6
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