Published on 11/28/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $7.73 million fixed income buffered securities on Russell, Nasdaq
By Taylor Fox
New York, Nov. 30 – Morgan Stanley Finance LLC priced $7.73 million of 6% fixed income buffered securities due Dec. 23, 2021 linked to the lesser performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Each month, the notes will pay a fixed coupon at the rate of 6% per year.
The payout at maturity will be par plus the coupon unless either index finishes below its buffer level, 80% of its initial level, in which case investors will lose 1.25% for every 1% that the lesser-performing index declines beyond 20%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Fixed income buffered securities
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Underlying indexes: | Russell 2000 index and Nasdaq-100 index
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Amount: | $7,725,000
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Maturity: | Dec. 23, 2021
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Coupon: | 6% per year, payable monthly
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Price: | Par
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Payout at maturity: | Par plus the coupon unless either underlier finishes below its buffer level, in which case investors will lose 1.25% for every 1% that lesser-performing underlier declines beyond buffer
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Initial levels: | 1,769.316 for Russell, 11,69.316 for Nasdaq
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Buffer levels: | 1,415.453 for Russell, 9,515.768 for Nasdaq; 80% of initial levels
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Pricing date: | Nov. 19
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Settlement date: | Nov. 23
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61771EML9
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