Published on 6/26/2015 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $15.2 million buffered digital notes on S&P 500
By Marisa Wong
Madison, Wis., June 26 – Morgan Stanley priced $15.2 million of 0% buffered digital notes due Sept. 29, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to negative 10%, the payout at maturity will be the maximum settlement amount of $1,057.70 for each $1,000 principal amount.
Investors will lose 1.1111% for each 1% decline beyond 10%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Buffered digital notes
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Underlying index: | S&P 500
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Amount: | $15.2 million
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Maturity: | Sept. 29, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 10%, maximum settlement amount of $1,057.70 for each $1,000 principal amount; 1.1111% loss for each 1% decline beyond 10%
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Index level: | 2,108.58
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Threshold level: | 1,897.722, 90% initial level
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Pricing date: | June 24
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Settlement date: | July 1
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1%
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Cusip: | 61761JZU6
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