Published on 2/28/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.1 million market plus notes linked to Euro Stoxx 50
By William Gullotti
Buffalo, N.Y., Feb. 28 – Morgan Stanley Finance LLC priced $1.1 million of 0% market plus notes due Feb. 26, 2026 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the index is positive, the payout at maturity will be par plus 200% of the index gain, subject to a maximum return of par plus 90.7%.
Investors will receive par if the index declines up to 10% and will be fully exposed to loss of the index if it finishes below the 90% knock-out level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Market plus notes
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Underlying index: | Euro Stoxx 50 index
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Amount: | $1,095,000
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Maturity: | Feb. 26, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes gains, par plus 200% of the index gain, capped at par plus 90.7%; if the index finishes flat or declines by no more than 10%, par; otherwise, full exposure to index decline from initial level.
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Initial level: | 4,258.16
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Knock-out level: | 3,832.344; 90% of initial level
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | Morgan Stanley & Co. LLC
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Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 2%
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Cusip: | 61774TT51
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