Published on 3/1/2016 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6 million buffered return enhanced notes on S&P
By Susanna Moon
Chicago, March 1 – Morgan Stanley priced $6 million of 0% capped buffered return enhanced notes due March 1, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.05 times any index gain, up to a maximum return of 22.05%.
Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.
Morgan Stanley & Co. LLC is the agent, with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
Issuer: | Morgan Stanley
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Issue: | Buffered return enhanced notes
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Underlying index: | S&P 500
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Amount: | $6 million
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Maturity: | March 1, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | Par plus 1.05 times any index gain, capped at 22.05%; par if index declines by 20% or less; 1.25% loss per 1% decline beyond 20%
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Initial level: | 1,951.70
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Pricing date: | Feb. 25
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Settlement date: | March 1
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Agents: | Morgan Stanley & Co. LLC, with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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Fees: | 1.5%
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Cusip: | 61761J2C2
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