Published on 3/3/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.01 million leveraged capped market-linked notes on S&P
By William Gullotti
Buffalo, N.Y., March 3 – Morgan Stanley Finance LLC priced $1.01 million of 0% market-linked securities – leveraged upside participation to a cap and contingent downside due March 5, 2029 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index’s final level is greater than its initial level, payout at maturity will be par plus 250% of the index’s return, capped at par plus 81.5%.
Investors will receive par if the index falls by up to 20%. Otherwise, investors will lose 1% for every 1% decline from its initial level.
Wells Fargo Securities, LLC and Morgan Stanley & Co. LLC are the agents.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Market-linked securities – leveraged upside participation to a cap and contingent downside
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Underlying index: | S&P 500 index
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Amount: | $1,009,000
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Maturity: | March 5, 2029
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index finishes at or above initial level, par plus 250% of the return, capped at par plus 81.5%; par if the index falls by up to 20%; otherwise, full exposure to decline from initial level
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Initial level: | 3,970.15
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Threshold level: | 3,176.12; 80% of initial level
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Pricing date: | Feb. 28
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Settlement date: | March 3
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Agents: | Wells Fargo Securities LLC and Morgan Stanley & Co. LLC
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Fees: | 3.82%
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Cusip: | 61774TB27
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