Published on 6/21/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6.12 million trigger gears linked to S&P 500
By Kiku Steinfeld
Chicago, June 22 – Morgan Stanley Finance LLC priced $6.12 million of 0% trigger gears due June 17, 2025 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 return is greater than zero, the payout at maturity will be par of $10 plus 1.17 times the index return. Investors will receive par if the index finishes flat or declines by 25% or less and have one-to-one exposure to the index’s decline from its initial level if it declines by more than 25%.
Morgan Stanley & Co. LLC is the agent and UBS Financial Services Inc. is the dealer.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Trigger gears
|
Underlying index: | S&P 500
|
Amount: | $6,121,800
|
Maturity: | June 17, 2025
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus 1.17 times any index gain; par if index finishes flat or falls by 25% or less; full exposure to index’s decline from initial level if it declines by more than 25%
|
Initial level: | 3,041.31
|
Downside threshold: | 2,280.98, or 75% of initial level
|
Pricing date: | June 12
|
Settlement date: | June 17
|
Agent: | Morgan Stanley & Co. LLC
|
Dealer: | UBS Financial Services Inc.
|
Fees: | 3.5%
|
Cusip: | 61771C201
|
|
© 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.