Published on 7/6/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $9.05 million capped buffer gears tied to S&P 500
By Marisa Wong
Los Angeles, July 6 – Morgan Stanley Finance LLC priced $9.05 million of 0% capped buffer gears due July 6, 2022 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 index return is greater than zero, the payout at maturity will be par of $10 plus 1.5 times the index gain, capped at par plus 19%. Investors will receive par if the index declines by 10% or less and lose 1% for every 1% that the indeax declines beyond 10%.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Capped buffer gears
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Underlying index: | S&P 500
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Amount: | $9.05 million
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Maturity: | July 6, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index return is greater than zero, par plus 1.5 times the index gain, capped at par plus 19%; par if the index declines by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial index level: | 3,115.34
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Buffer level: | 2,803.81, 90% of initial level
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Pricing date: | June 18
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Settlement date: | June 23
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Agent: | Morgan Stanley & Co. LLC
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Dealer: | UBS Financial Services Inc.
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Fees: | 1.5%
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Cusip: | 61771C383
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