Published on 11/16/2016 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $9.64 million leveraged buffered notes tied to S&P 500
By Devika Patel
Knoxville, Tenn., Nov. 16 – Morgan Stanley Finance LLC priced $9.64 million of 0% leveraged buffered notes due Oct. 22, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Goldman Sachs Group, Inc.
If the index return is positive, the payout at maturity will be par plus 160% of the index return, subject to a maximum settlement amount of $1,222.40 per $1,000 of notes. Investors will receive par if the index declines by 12.5% or less and will lose 1% for every 1% that the index declines beyond 12.5%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | S&P 500
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Amount: | $9,636,000
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Maturity: | Oct. 22, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 160% of index gain, capped at $1,222.40 per $1,000 of notes; par if index falls by up to 12.5%; 1% loss for every 1% drop beyond 12.5%
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Initial level: | 2,164.20
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Buffer level: | 1,893.675, 87.5% of initial level
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Pricing date: | Nov. 26
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Settlement date: | Nov. 29
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61768CBX4
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