E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 5/13/2020 in the Prospect News Structured Products Daily.

New Issue: Morgan Stanley sells $2.41 million dual directional buffered participation notes on S&P

By Sarah Lizee

Olympia, Wash., May 13 – Morgan Stanley Finance LLC priced $2.41 million of 0% dual directional buffered participation securities due July 6, 2021 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 finishes at or above the initial level, the payout at maturity will par plus the return of the index, capped at par plus 10%.

If the index falls but by no more than the 10% buffer, the payout will be par plus the absolute value of the return.

If the index falls by more than 10%, investors will lose 1% for every 1% decline beyond the 10% buffer.

Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.

Issuer:Morgan Stanley Finance LLC
Guarantor:Morgan Stanley
Issue:Dual directional buffered participation notes
Underlying index:S&P 500 index
Amount:$2,410,210
Maturity:July 6, 2021
Coupon:0%
Price:Par of $10
Payout at maturity:If the index finishes at or above the initial level, par plus the return of the index, capped at par plus 10%; if the index falls but by no more than the 10% buffer, par plus the absolute value of the return; if the index falls by more than 10%, 1% loss for every 1% decline beyond the 10% buffer
Initial level:2,929.80
Buffer level:2,636.82, 90% of initial level
Pricing date:May 8
Settlement date:May 13
Agent:Morgan Stanley & Co. LLC
Dealer:Morgan Stanley Wealth Management
Fees:2.25%
Cusip:61769P586

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.