Published on 4/8/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 trigger PLUS tied to three stocks
By Sarah Lizee
Olympia, Wash., April 8 – Morgan Stanley Finance LLC priced $500,000 of 0% trigger Performance Leveraged Upside Securities due April 4, 2023 linked to the common stocks of Bank of America Corp., Citigroup Inc. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
If each stock finishes above its initial level, the payout at maturity will be par plus 300% of the least-performing stock’s return, capped at $4,200 per $1,000 of notes.
If the final level of either stock is less than or equal to its initial level but the final level of each stock is greater than or equal to its trigger level, the payout will be par. For each stock, the trigger level is 85% of its initial level.
If the final level of either stock is less than its trigger level, investors will be exposed to the decline of the least-performing stock from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying stocks: | Bank of America Corp., Citigroup Inc. and Wells Fargo & Co.
|
| Amount: | $500,000
|
| Maturity: | April 4, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes above initial level, par plus 300% of least-performing stock’s return, capped at $4,200 per $1,000 of notes; if final level of either stock is less than or equal to initial level but final level of each stock is greater than or equal to trigger level, par; if final level of either stock is less than trigger level, exposure to decline of least-performing stock from initial level
|
| Initial levels: | $21.79 for BofA, $44.54 for Citi, $29.76 for Wells
|
| Trigger levels: | $18.522 for BofA, $37.859 for Citi, $25.296 for Wells, or 85% of initial levels
|
| Pricing date: | March 30
|
| Settlement date: | April 2
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.6%
|
| Cusip: | 61770FA22
|
|
|
© 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.
