Published on 7/13/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $33.68 million buffered digital notes on S&P 500
By Sarah Lizee
Olympia, Wash., July 13 – Morgan Stanley Finance LLC priced $33.68 million of 0% buffered digital notes due Sept. 15, 2020 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 or equal to negative 15%, the payout at maturity will be $1,152.80 per $1,000 principal amount. Otherwise, investors will lose 1.1765% for each 1% that the index declines beyond 15%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Buffered digital notes
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Underlying index: | S&P 500
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Amount: | $33,676,000
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Maturity: | Sept. 15, 2020
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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 15%, maximum settlement amount of $1,152.80 per $1,000 of notes; otherwise, 1.1765% loss for each 1% that index declines beyond 15%
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Initial level: | 2,774.02
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Threshold level: | 2,357.917, 85% of initial level
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Pricing date: | July 11
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Settlement date: | July 18
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61768C6V4
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