Published on 2/25/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $9.08 million capped leveraged buffered notes on basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 25 – Morgan Stanley Finance LLC priced $9.08 million of 0% capped leveraged buffered notes due Jan. 12, 2023 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket includes the Euro Stoxx 50 index with a 36% weight, the Tokyo Stock Price index with a 29% weight, the FTSE 100 index with a 16% weight, the Swiss Market index with an 11% weight and the S&P/ASX 200 index with an 8% weight.
The payout at maturity will be par plus 140% of any basket gain, capped at $1,241.50 per $1,000 principal amount.
Investors will receive par if the basket declines by 12.5% or less and will lose 1.1429% for every 1% that it declines beyond 12.5%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Capped leveraged buffered notes
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Underlying basket: | Euro Stoxx 50 index (36% weight), Tokyo Stock Price index (29% weight), FTSE 100 index (16% weight), Swiss Market index (11% weight) and S&P/ASX 200 index (8% weight)
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Amount: | $9,077,000
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Maturity: | Jan. 12, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 140% of any basket gain, capped at $1,241.50 per $1,000 principal amount; par if basket falls by up to 12.5%; 1.1429% loss for every 1% drop beyond 12.5%
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Initial levels: | 3,681.04 for Stoxx, 1,941.91 for Tokyo, 6,617.15 for FTSE, 10,717.71 for Swiss and 6,885.873 for S&P/ASX
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Buffer level: | 87.5% of initial basket level
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Pricing date: | Feb. 18
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Settlement date: | Feb. 25
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61771E6X1
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