Published on 2/9/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $7.93 million buffered digital notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Feb. 9 – Morgan Stanley Finance LLC priced $7.93 million of 0% buffered digital notes due June 12, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index return is at least negative 15%, the payout at maturity will be the maximum settlement amount of $1,149 per $1,000 principal amount.
If the index return is less than negative 15%, investors will lose 1.1765% for each 1% decline beyond 15%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Buffered digital notes
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Underlying index: | S&P 500 index
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Amount: | $7,934,000
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Maturity: | June 12, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is at least negative 15%, par plus 14.9%; otherwise, 1.1765% loss for each 1% decline beyond 15%
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Initial level: | 2,293.08
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Buffer level: | 1,949.118, 85% of initial level
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Pricing date: | Feb. 7
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Settlement date: | Feb. 14
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61768CEZ6
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