Published on 3/12/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.96 million leveraged buffered notes on S&P 500
By Marisa Wong
Morgantown, W.Va., March 12 – Morgan Stanley Finance LLC priced $3.96 million of 0% leveraged buffered notes due April 4, 2019 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 positive, the payout at maturity will be par plus 150% of the gain, subject to a maximum settlement amount of $1,105.75 per $1,000 principal amount. Investors will receive par if the index declines by up to 10% and will lose 1.1111% for every 1% that the index may decline 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: | Leveraged buffered notes
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Underlying index: | S&P 500
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Amount: | $3,962,000
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Maturity: | April 4, 2019
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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% of index return, subject to 10.575% maximum return; par if index declines by up to 10%; 1.1111% loss for every 1% that index may decline beyond 10%
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Initial index level: | 2,691.25
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Buffer level: | 2,422.125, 90% of initial level
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Pricing date: | March 2
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Settlement date: | March 9
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.13%
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Cusip: | 61768CF69
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