Published on 2/20/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $8 million digital notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 20 – Morgan Stanley Finance LLC priced $8 million of 0% digital notes due Aug. 16, 2021 linked to a 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 Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
If the final basket level is equal to or greater than the initial level, the payout at maturity will be the greater of the threshold settlement amount, $1,207 per $1,000 of notes, and par plus the return.
Investors will be fully exposed to any decline in the basket.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Digital notes
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Underlying indexes: | Euro Stoxx 50 index (36% weight), Topix index (27% weight), FTSE 100 index (19% weight), Swiss Market index (10% weight) and S&P/ASX 200 index (8% weight)
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Amount: | $7,995,000
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Maturity: | Aug. 16, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final basket level is equal to or greater than initial level, greater of $1,207 per $1,000 of notes and par plus the return; full exposure to decline
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Initial levels: | 3,854.43 for Euro Stoxx, 1,718.92 for Topix, 7,534.37 for FTSE, 11,089.24 for Swiss Market, 7,088.23 for S&P/ASX
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Pricing date: | Feb. 12
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Settlement date: | Feb. 20
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Underwriter: | Morgan Stanley & Co. LLC
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Fees: | 1.53%
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Cusip: | 61770FJZ0
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