Published on 1/15/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.45 million market plus notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 15 – Morgan Stanley Finance LLC priced $2.45 million of 0% market plus notes due July 15, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the final index level is greater than or equal to the knock-out level, 78% of the initial index level, the payout at maturity will be par plus the greater of the index return and zero. Otherwise, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
Issuer: | Morgan Stanley & Co. LLC
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Guarantor: | Morgan Stanley
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Issue: | Market plus notes
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Underlying index: | S&P 500
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Amount: | $2,445,000
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Maturity: | July 15, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to knock-out level, par plus greater of index return and zero; otherwise, 1% loss for every 1% that final index level is less than initial index level
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Initial index level: | 2,596.26
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Final index level: | Average of index’s closing levels on five trading days ending July 10, 2020
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Knock-out level: | 2,025.083, 78% of initial level
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Pricing date: | Jan. 11
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Settlement date: | Jan. 16
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Agents: | Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.25%
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Cusip: | 61768DYM1
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