Published on 1/2/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $21.73 million of leveraged buffered notes on S&P
By Devika Patel
Knoxville, Tenn., Jan. 2 – Morgan Stanley Finance LLC priced $21,732,000 of 0% leveraged buffered notes due April 26, 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 return is positive, the payout at maturity will be par plus 140% of the index return, subject to a maximum settlement amount of $1,135.80 per $1,000 of notes. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that the index declines beyond 10%.
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 notes
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Underlying index: | S&P 500
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Amount: | $21,732,000
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Maturity: | April 26, 2021
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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 140% of index gain, capped at $1,135.80 per $1,000 of notes; par if index falls by up to 10%; 1.1111% loss for every 1% drop beyond 10%
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Initial level: | 3,221.22
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Buffer level: | 2,899.098, 90% of initial level
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Pricing date: | Dec. 20
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Settlement date: | Dec. 30
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61769H5S0
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