Published on 4/22/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $17 million digital index-linked notes on S&P Equal Weight Energy
By William Gullotti
Buffalo, N.Y., April 22 – Morgan Stanley Finance LLC priced $17 million of 0% digital notes due May 21, 2025 linked to the S&P 500 Equal Weight Energy index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index return is greater than or equal to 85% of the initial level, the payout at maturity will be par plus 10.57%.
Otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%.
Morgan Stanley & Co. LLC is the agent. iCapital Markets LLC is the dealer.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Digital notes
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Underlying index: | S&P 500 Equal Weight Energy index
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Amount: | $16,995,000
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Maturity: | May 21, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is greater than or equal to 85% of the initial level, par plus 10.57%; otherwise, investors will lose 1.1765% for every 1% that the index declines beyond 15%
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Initial index level: | 2,965.13
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Threshold level: | 2,520.3605; 85% of initial level
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Pricing date: | April 17
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Settlement date: | April 24
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Agent: | Morgan Stanley & Co. LLC
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Dealer: | iCapital Markets LLC
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Fees: | 1.09%
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Cusip: | 61776LUZ8
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