Published on 10/28/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2 million digital index-linked notes on S&P 500
By William Gullotti
Buffalo, N.Y., Oct. 28 – Morgan Stanley Finance LLC priced $2 million of 0% digital notes due Oct. 2, 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 67.4% of the initial level, the payout at maturity will be par plus 5%.
Otherwise, investors will lose 1.4837% for every 1% that the index declines beyond 32.6%.
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: | $2 million
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Maturity: | Oct. 2, 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 67.4% of the initial level, $1,050 per $1,000 principal amount of notes; otherwise, investors will lose 1.4837% for every 1% that the index declines beyond 32.6%
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Initial index level: | 4,352.63
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Threshold level: | 2,933.67262; 67.4% of initial level
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Strike date: | Sept. 28
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Pricing date: | Sept. 30
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Settlement date: | Oct. 7
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.33%
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Cusip: | 61773F3N1
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