Published on 8/18/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.5 million buffered PLUS linked to mixed basket
By William Gullotti
Buffalo, N.Y., Aug. 18 – Morgan Stanley Finance LLC priced $1.5 million of 0% buffered Performance Leveraged Upside Securities due Aug. 17, 2022 linked to a basket containing two indexes and an ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index (70% weight), the Euro Stoxx 50 index (20% weight) and the iShares MSCI Emerging Markets ETF (10% weight).
If the return of the basket is greater than or equal to its initial value, the payout will be par plus 125% of the basket return, capped at $1,094 per $1,000 security.
If the basket falls by up to 10%, the payout will be par.
If the basket falls by more than 10%, investors will lose 1% for every 1% decline of the basket beyond the 10% buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered Performance Leveraged Upside Securities
|
| Underlying basket: | S&P 500 index (70% weight), Euro Stoxx 50 index (20% weight), iShares MSCI Emerging Markets ETF (10% weight)
|
| Amount: | $1,500,000
|
| Maturity: | Aug. 17, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the return of basket is greater than or equal initial value, par plus 125% of basket return, up to $1,094 per security; if the basket falls by up to buffer, par; if the basket falls by more than buffer, 1% loss for every 1% decline of the basket beyond buffer
|
| Initial levels: | 4,063.04 for S&P, 3,947.43 for Stoxx, $52.08 for EM ETF
|
| Buffer level: | 90% of initial basket level
|
| Pricing date: | May 12
|
| Settlement date: | May 17
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.65%
|
| Cusip: | 61771VF70
|
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