Published on 7/9/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 trigger PLUS linked to Dow, Russell
By Sarah Lizee
Olympia, Wash., July 9 – Morgan Stanley Finance LLC priced $250,000 of 0% trigger Performance Leveraged Upside Securities due July 3, 2025 linked to the worst performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes above its initial level, the payout at maturity will be par plus 400% of any gain of the worst performing index, up to par plus 50%.
If either index falls but each remains at or above the 60% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
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 Performance Leveraged Upside Securities
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Underlying indexes: | Dow Jones industrial average and Russell 2000 index
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Amount: | $250,000
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Maturity: | July 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst-performing index gains, par plus 400% of the return of the worst performing index, capped at par plus 50%; if either index falls by up to trigger level, par; otherwise, full exposure to any losses of worst performing index
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Initial level: | 25,812.88 for Dow, 1,441.365 for Russell
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Trigger level: | 15,487.728 for Dow, 864.819 for Russell; 60% of initial level
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61771BJU9
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