Published on 7/12/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $9.76 million capped leveraged buffered basket-linked notes
By Wendy Van Sickle
Columbus, Ohio, July 12 – Morgan Stanley Finance LLC priced $9.76 million of 0% capped leveraged buffered basket-linked notes due Oct. 18, 2024 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket includes the Euro Stoxx 50 index with a 36% weight, the Tokyo Stock Price index with a 26% weight, the FTSE 100 index with a 17% weight, the Swiss Market index with a 12% weight and the S&P/ASX 200 index with an 9% weight.
The payout at maturity will be par plus 200% of any basket gain, capped at 24.2%.
Investors will receive par if the basket declines by 12.5% or less and will lose 1.1429% for every 1% that it declines beyond 12.5%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Capped leveraged buffered basket-linked notes
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Underlying indexes: | Euro Stoxx 50 (36% weight), Tokyo Stock Price (26% weight), FTSE 100 (17% weight), Swiss Market (12% weight) and S&P/ASX 200 (9% weight)
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Amount: | $9,761,000
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Maturity: | Oct. 18, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any basket gain, subject to a maximum payout of par plus 24.2%; par if basket falls by up to 12.5%; otherwise, 1.1429% loss for every 1% drop beyond 12.5%
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Initial levels: | 4,305.26 for Stoxx, 2,253.81 for Tokyo, 7,461.46 for FTSE, 11,142.65 for Swiss, 7,118.212 for S&P/ASX
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Pricing date: | June 27
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Settlement date: | July 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61775HCK1
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