Published on 7/11/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.11 million leveraged buffered notes tied to S&P 500
By Susanna Moon
Chicago, July 11 – Morgan Stanley Finance LLC priced $1.11 million of 0% leveraged buffered notes due July 1, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, up to a maximum settlement amount of $1,211.20 for each $1,000 principal amount.
Investors will receive par if the index falls by up to 10% and will be fully exposed to any losses if the index finishes below the geared buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Leveraged buffered notes
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Underlying index: | S&P 500
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Amount: | $1.11 million
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Maturity: | July 1, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at 21.12%; if index falls by up to 10%, par; otherwise, 1.1111% loss per 1% decline beyond 10%
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Initial level: | 2,718.37
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Barrier level: | 2,446.533, 90% of initial level
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Pricing date: | June 29
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Settlement date: | July 9
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61768C5G8
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