Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6.76 million 7.8% fixed income buffered securities on index, ETF
New York, April 23 – Morgan Stanley Finance LLC priced $6.76 million of fixed income buffered securities due July 18, 2025 linked to the S&P 500 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.8%, paid monthly.
If the worst performing asset finishes at or above 80% of initial level, the payout at maturity will be par. Otherwise, investors will lose 1.25% for every 1% that the worst performing asset declines beyond 20%.
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: | Fixed income buffered securities
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Underlying assets: | S&P 500 index and iShares MSCI EAFE ETF
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Amount: | $6,755,000
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Maturity: | July 18, 2025
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Coupon: | 7.8%, paid monthly
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its buffer, par; otherwise, 1.25% loss for every 1% that worst performing asset declines beyond 20%
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Initial levels: | $77.01 for iShares MSCI EAFE ETF, 5,061.82 for S&P 500
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Buffer: | 20%
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Strike date: | April 15
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Pricing date: | April 17
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Settlement date: | April 22
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61776LA31
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