Published on 1/24/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.7 million inverse knock-out notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 24 – Morgan Stanley Finance LLC priced $1.7 million of 0% inverse knock-out notes due Jan. 22, 2021 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 final index level is less than the initial index level but greater than or equal to the knock-out level, the payout at maturity will be par plus the absolute value of the index return. The knock-out level is 70.1% of the initial index level.
If the final index level is greater than or equal to the initial index level or is less than the knock-out level, the payout will be par.
Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Inverse knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $1.7 million
|
| Maturity: | Jan. 22, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is less than initial index level but greater than or equal to knock-out level, par plus absolute value of index return; if final index level is greater than or equal to initial index level or is less than knock-out level, par
|
| Initial index level: | 2,670.71 (closing level on Jan. 18)
|
| Knock-out level: | 1,872.168, 70.1% of initial index level
|
| Final index level: | Average of index’s closing levels on five trading days ending Jan. 19, 2021
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 25
|
| Agents: | Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.5%
|
| Cusip: | 61768DZS7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
