By Sarah Lizee
Olympia, Wash., Oct. 4 – Morgan Stanley Finance LLC priced $1.1 million of 0% buffered Performance Leveraged Upside Securities due Sept. 30, 2021 linked to the worse performing of the iShares MSCI Emerging Markets ETF and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each ETF finishes above the initial level, the payout at maturity will be par plus 200% of the gain of the laggard ETF, capped at par plus 26%.
If either ETF falls but not by more than 90% of its initial level, the payout will be par plus the absolute value of the return of the lesser performing ETF.
Otherwise, investors will be exposed to any losses of the lesser performing ETF 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 ETFs: | iShares MSCI Emerging Markets ETF and iShares MSCI EAFE ETF
|
| Amount: | $1.1 million
|
| Maturity: | Sept. 30, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes above the initial level, par plus 200% of the gain of the laggard ETF, capped at par plus 26%; if either ETF falls but not by more than 90% of its initial level, par plus the absolute value of the return of the lesser performing ETF; otherwise, investors will be exposed to any losses of the lesser performing ETF beyond the 10% buffer
|
| Initial levels: | $41.17 for EM, $65.19 for EAFE
|
| Buffer levels: | $37.053 for EM, $58.671 for EAFE; 90% of initial levels
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61769HWY7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
