Published on 3/20/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $370,000 dual directional notes linked to S&P 500
Chicago, March 20 – Morgan Stanley Finance LLC priced $370,000 of 0% dual directional buffered equity notes due April 1, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the index return, subject to a maximum upside return of 5%.
If the final index level is less than the initial index level by up to 15.3%, the payout will be par plus the absolute value of the index return.
If the final index level is less than the initial index level by more than 15.3%, investors will lose 1.1806% for every 1% that the index declines beyond the buffer.
Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered equity notes
|
| Underlying index: | S&P 500
|
| Amount: | $370,000
|
| Maturity: | April 1, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus index return, subject to 5% maximum return; if final index level is less than initial index level by up to 15.3%, par plus absolute value of index return; otherwise, 1.1806% loss for every 1% that index declines beyond the buffer
|
| Initial index level: | 2,822.48
|
| Final index level: | Average of index’s closing levels on five trading days ending March 27, 2020
|
| Buffer level: | 2,390.641, 84.7% of initial level
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Agents: | Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 61768D3G8
|
|
|
© 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.
