Published on 8/27/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $24.36 million leveraged buffered notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 27 – Morgan Stanley Finance LLC priced $24.36 million of 0% leveraged buffered notes due Sept. 24, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 20.01%. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
The notes are guaranteed by Morgan Stanley.
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: | $24,357,000
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Maturity: | Sept. 24, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes above initial level, par plus 150% of index return, subject to 20.01% maximum return; par if index declines by 10% or less; 1.1111% loss for every 1% that index declines beyond 10%
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Initial level: | 2,847.11
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Pricing date: | Aug. 23
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Settlement date: | Aug. 30
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61769HRE7
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