Published on 2/23/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.67 million enhanced trigger jump securities on S&P, Russell
By Taylor Fox
New York, Feb. 23 – Morgan Stanley Finance LLC priced $1.67 million of 0% enhanced trigger jump securities due May 23, 2022 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its 75% downside threshold, the payout at maturity will be par plus the 11.13% upside payment.
Otherwise, investors will be fully exposed to the decline of the lesser performing index from its initial 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: | Enhanced trigger jump securities
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Underlying indexes: | Russell 2000, S&P 500
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Amount: | $1,674,000
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Maturity: | May 23, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above its 75% downside threshold, par plus the 11.13% upside payment; otherwise, investors will be fully exposed to the decline of the lesser performing index from its initial level
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Initial levels: | 3,913.97 for S&P, 2,218.385 for Russell
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Downside thresholds: | 2,935.478 for S&P, 1,663.789 for Russell; 75% of initial levels
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Pricing date: | Feb. 18
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Settlement date: | Feb. 23
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.6%
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Cusip: | 61771E6T0
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