Published on 10/24/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.5 million buffer gears linked to S&P 500, Russell 2000
By Wendy Van Sickle
Columbus, Ohio, Oct. 24 – Morgan Stanley Finance LLC priced $3.5 million of 0% buffer gears due Oct. 21, 2025 linked to the lesser performing of the Russell 2000 index and 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 lesser performing index return is positive, the payout at maturity will be par of $10 plus 1.59 times the lesser performing index return. Investors will receive par if the lesser performing index falls by up to 25% and lose 1% for each 1% that the lesser performing index may decline beyond 25%.
Morgan Stanley & Co. LLC is the agent, and UBS Financial Services Inc. is acting as dealer.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Buffer gears
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $3.5 million
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Maturity: | Oct. 21, 2025
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.59 times any lesser performing index gain; par if lesser performing index falls by up to 25%; 1% loss for every 1% that lesser performing index declines beyond 25%
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Initial index levels: | 2,809.92 for S&P, 1,596.837 for Russell, closing levels on Oct. 16
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Downside thresholds: | 2,107.44 for S&P, 1,197.628 for Russell, 75% of initial level
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Pricing date: | Oct. 17
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Settlement date: | Oct. 22
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Agent: | Morgan Stanley & Co. LLC
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Dealer: | UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 61768T548
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