Published on 4/13/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 buffered jump securities on S&P, Russell
By Sarah Lizee
Olympia, Wash., April 13 – Morgan Stanley Finance LLC priced $250,000 of 0% buffered jump securities due April 3, 2025 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes at or above its initial level, the payout at maturity will be par plus the greater of the upside payment of 40% and the gain of the worse performing index.
If either index falls by up to 20% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the lesser-performing underlying index declines beyond 20%.
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 jump securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $250,000
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Maturity: | April 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus greater of 40% and gain of worse performing index; if either index falls by up to 20%, par; otherwise, 1% loss per every 1% decline of worse performing index beyond 20%
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Initial levels: | 2,584.59 for S&P and 1,153.103 for Russell
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Buffer levels: | 2,067.672 for S&P and 922.482 for Russell, 80% of initial levels
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Pricing date: | March 31
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Settlement date: | April 3
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61770FPK6
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