Published on 7/7/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $12.75 million trigger PLUS linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, July 7 – Morgan Stanley Finance LLC priced $12.75 million of 0% trigger Performance Leveraged Upside Securities due July 6, 2023 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index return is positive, the payout at maturity will be par of $10 plus 150.5% of the index return. If the index declines by 35% or less, the payout will be par. If the index declines by more than 35%, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500 index
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Amount: | $12,746,970
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Maturity: | July 6, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 150.5% of index return; if index declines by 35% or less, par; if index finishes below trigger level, 1% loss for every 1% that final index level is less than initial index level
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Initial level: | 2,423.41
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Trigger level: | 1,575.217, 65% of initial level
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Pricing date: | June 30
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Settlement date: | July 6
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.5%
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Cusip: | 61766W766
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