Published on 11/17/2023 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.28 million capped leveraged buffered notes tied to index basket
By Angela McDaniels
Tacoma, Wash., Nov. 17 – Morgan Stanley Finance LLC priced $2.28 million of 0% capped leveraged buffered basket-linked notes due Oct. 24, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
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 a 9% weight.
If the basket return is positive, the payout at maturity will be par plus 200% of the basket return, subject to a maximum settlement amount of $1,620 per $1,000 principal amount of notes.
If the basket return is zero or negative but not below negative 15%, the payout will be par.
If the basket return is below negative 15%, investors will lose 1.1765% for every 1% that the basket declines beyond 15%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Capped leveraged buffered 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) and S&P/ASX 200 index (9% weight)
|
| Amount: | $2,283,000
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| Maturity: | Oct. 24, 2025
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If basket return is positive, par plus 200% of basket return, subject to maximum return of 62%; if basket return is zero or negative but not below negative 15%, par; if basket return is below negative 15%, 1.1765% loss for every 1% that basket declines beyond 15%
|
| Initial levels: | 4,049.40 for Euro Stoxx, 2,224.25 for Tokyo Stock Price, 7,354.57 for FTSE, 10,367.69 for Swiss Market and 6,812.319 for S&P/ASX
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| Buffer level: | 85% of initial level
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| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0%
|
| Cusip: | 61775MQN9
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