Published on 3/26/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.46 million buffered PLUS on ETF, index basket
By Marisa Wong
Morgantown, W.Va., March 26 – Morgan Stanley Finance LLC priced $5.46 million of 0% buffered Performance Leveraged Upside Securities due March 21, 2022 linked to a basket of four indexes and one exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket consists of the S&P 500 index with a 70% weight, MSCI EAFE index with a 15% weight, S&P MidCap 400 index with an 8% weight, Russell 2000 index with a 3% weight and iShares MSCI Emerging Markets ETF with a 4% weight.
The payout at maturity will be par plus 123.3% of any basket gain.
If the basket finishes flat or falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1.3333% for every 1% decline beyond 25%.
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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Basket components: | S&P 500 index with a 70% weight, MSCI EAFE index with a 15% weight, S&P MidCap 400 index with an 8% weight, Russell 2000 index with a 3% weight and iShares MSCI Emerging Markets ETF with a 4% weight
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Amount: | $5,459,000
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Maturity: | March 21, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 123.3% of any basket gain; par if basket finishes flat or falls by up to 25%; otherwise, 1.3333% for every 1% decline beyond 25%
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Initial component values: | 2,752.01 for S&P, 2,043.58 for EAFE, 1,935.65 for MidCap, 1,586.048 for Russell, $49.21 for EM ETF
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Pricing date: | March 16
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Settlement date: | March 21
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Underwriter: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61768CL39
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