Published on 4/7/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.01 million buffered PLUS linked to Russell, S&P, Dow
Chicago, April 7 – Morgan Stanley Finance LLC priced $1.01 million of 0% buffered Performance Leveraged Upside Securities due March 25, 2025 linked to the worst performing of the Russell 2000 index, the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If all three indexes finish above their initial levels, the payout will be par plus 167% of the return of the worst performing index.
If the worst performer declines, but not more than 30%, the payout will be par.
Otherwise, investors will be exposed to losses of the worst performer beyond the 30% 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: | Buffered Performance Leveraged Upside Securities
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Underlying indexes: | Russell 2000, S&P 500, and the Dow Jones industrial average
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Amount: | $1,010,000
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Maturity: | March 25, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 167% of return of worst performer if all three finish above initial level; par if worst performer declines by 30% or less; 1% loss for every 1% that worst performer declines beyond 30%
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Initial levels: | 1,013.889 for Russell, 2,304.92 for S&P and 19,173.98 for Dow
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Buffer levels: | 709.722 for Russell, 1,613.444 for S&P and 13,421.786 for Dow, 70% of initial levels
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Pricing date: | March 20
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Settlement date: | March 25
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61770FVT0
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