Published on 6/19/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $10.83 million leveraged buffered notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., June 19 – Morgan Stanley Finance LLC priced $10.83 million of 0% leveraged buffered notes due June 21, 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 index finishes above its initial level, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 19.725%. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
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: | $10,834,000
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Maturity: | June 21, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes above initial level, par plus 150% of index return, subject to 19.725% maximum return; par if index declines by 10% or less; 1.1111% for every 1% that index declines beyond 10%
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Initial level: | 2,889.67
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Buffer level: | 2,600.703, 90% of initial level
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Pricing date: | June 17
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Settlement date: | June 24
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61769HFW0
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