Published on 4/29/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6.2 million buffered PLUS linked to index basket
By William Gullotti
Buffalo, N.Y., April 29 – Morgan Stanley Finance LLC priced $6.2 million of 0% buffered Performance Leveraged Upside Securities due April 26, 2030 linked to an equally weighted basket of indexes consisting of the Euro Stoxx 50 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of basket is greater than or equal to its initial value, the payout will be par plus 147% of the basket return.
If the basket falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% decline of the basket beyond 20%.
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 Performance Leveraged Upside Securities
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Underlying basket: | Euro Stoxx 50 index, S&P 500 index; equal weights
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Amount: | $6.2 million
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Maturity: | April 26, 2030
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the return of basket is greater than or equal initial value, par plus 147% of basket return; if the basket falls by no more than 20%, par; otherwise, lose 1% for each 1% of basket decline beyond 20%
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Initial levels: | 5,008.17 for Stoxx, 5,070.55 for S&P
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Buffer level: | 80% of initial basket level
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Pricing date: | April 23
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Settlement date: | April 26
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.33%
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Cusip: | 61776LXQ5
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