E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 9/25/2023 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley prices $476,000 dual directional buffered notes on S&P

By Kiku Steinfeld

Chicago, Sept. 25 – Morgan Stanley Finance LLC priced $476,000 of 0% dual directional buffered participation securities due June 20, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 100% of the index return subject to a maximum return of par plus 8.4%.

Investors will receive par plus 100% of absolute return of the index if it declines but by no more than the 25% buffer and will be exposed to any decline in the index beyond the buffer.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:Morgan Stanley Finance LLC
Guarantor:Morgan Stanley
Issue:Dual directional buffered participation securities
Underlying index:S&P 500 index
Amount:$476,000
Maturity:June 20, 2024
Coupon:0%
Price:Par
Payout at maturity:If return of index is positive, par plus 100% of index return subject to a maximum return of par plus 8.4%; par plus 100% of absolute return of index if it declines but by no more than 25%; exposure to loss of index beyond buffer
Initial level:3,919.29
Upside leverage:100%
Cap:8.4%
Absolute return:100%
Buffer:25%
Pricing date:March 14, 2023
Settlement date:March 17, 2023
Agent:Morgan Stanley & Co. LLC
Fees:0.3%
Cusip:61774T7L0

© 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.