Published on 11/22/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 Trigger PLUS linked to iShares EM ETF
By Kiku Steinfeld
Chicago, Nov. 22 – Morgan Stanley Finance LLC priced $500,000 of 0% Trigger PLUS due March 20, 2026 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 112% of the ETF return. Investors will receive par if the ETF return is negative but ends at or above the 70% trigger and will lose 1% for every 1% decline if it ends below the trigger level.
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: | Trigger PLUS
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $500,000
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Maturity: | March 20, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus 112% of fund return; par if fund declines but finishes at or above trigger level; 1% loss for every 1% that fund declines if it finishes below trigger level
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Initial level: | $44.72
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Trigger level: | $31.304, 70% of initial level
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Upside leverage: | 112%
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Cap: | None
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Pricing date: | March 21
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Settlement date: | March 24
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.25%
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Cusip: | 61773QSW0
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