Published on 6/28/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $10.68 million digital index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., June 28 – Morgan Stanley Finance LLC priced $10.68 million of 0% digital notes due Feb. 3, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index return is greater than or equal to 90% of the initial level, the payout at maturity will be $1,092 per $1,000 of notes.
Otherwise, investors will lose 1.1111% for every 1% that the index 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: | Digital notes
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Underlying index: | S&P 500
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Amount: | $10,675,000
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Maturity: | Feb. 3, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is greater than or equal to 90% of the initial level, $1,092 per $1,000 of notes; otherwise, investors will lose 1.1111% for every 1% that the index declines beyond 10%
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Initial index level: | 4,166.45
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Threshold level: | 3,749.805; 90% of initial level
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Pricing date: | June 18
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Settlement date: | June 25
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.19%
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Cusip: | 61773FAC7
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