Published on 2/21/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.5 million buffered digital basket-linked notes
By William Gullotti
Buffalo, N.Y., Feb. 21 – Morgan Stanley Finance LLC priced $2.5 million of 0% buffered digital basket-linked notes due Aug. 14, 2025 linked 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 consists of 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 a 9% weight.
If the basket finishes at or above initial level, the payout at maturity will be the greater of par plus the basket gain and par plus 14.45%.
Investors will receive par if the basket declines by no more than 10% and will lose 1.1111% for every 1% that the basket declines beyond 10%.
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 digital basket-linked notes
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| Underlying indexes: | Euro Stoxx 50 index (36% weight), Tokyo Stock Price index (26% weight), FTSE 100 index (17% weight), Swiss Market index (12% weight), S&P/ASX 200 index (9% weight)
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| Amount: | $2.5 million
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| Maturity: | Aug. 14, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the basket finishes at or above initial level, the greater of par plus the basket gain and par plus 14.45%; if the basket declines but finishes at or above 90% of initial level, par; otherwise, investors will lose 1.1111% for every 1% that the basket declines beyond 10%
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| Initial levels: | 4,715.87 for Euro Stoxx, 2,557.88 for Tokyo, 7,572.58 for FTSE, 11,091.58 for Swiss Market, 7,644.841 for S&P/ASX
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| Threshold level: | 90% of initial level
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 20
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.5%
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| Cusip: | 61771WE20
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