Published on 2/9/2016 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.61 million buffered participation notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Feb. 9 – Morgan Stanley priced $4.61 million of 0% buffered participation securities due Feb. 8, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum return of 31%. Investors will receive par if the index declines by 20% or less and will lose 1.25% for every 1% that it declines beyond 20%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Buffered participation securities
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Underlying index: | S&P 500
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Amount: | $4,605,000
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Maturity: | Feb. 8, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 31%; par for losses up to 20%; 1.25% loss for every 1% drop beyond 20%
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Initial level: | 1,915.45 (closing index level on Feb. 4)
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Buffer level: | 1,532.36, 80% of initial level
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Pricing date: | Feb. 5
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Settlement date: | Feb. 10
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.25%
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Cusip: | 61761JX20
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