Published on 5/8/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $6.41 million digital index-linked notes on S&P 500
By Sarah Lizee
Olympia, Wash., May 8 – Morgan Stanley Finance LLC priced $6.41 million of 0% digital notes due July 12, 2021 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 final index level is greater than or equal to 80% of the initial level, the payout at maturity will be $1,085 per $1,000 of notes.
Otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%.
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: | $6,405,000
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Maturity: | July 12, 2021
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | If the final index level is greater than or equal to 80% of the initial level, $1,085 per $1,000 of notes; 1.25% loss for every 1% that the index declines beyond 20%
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Initial index level: | 2,830.71
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Buffer level: | 2,264.568, 80% of initial level
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Pricing date: | May 1
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Settlement date: | May 8
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.95%
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Cusip: | 61770FU53
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