Published on 4/14/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $251,000 buffered jump securities on S&P, Dow
By Sarah Lizee
Olympia, Wash., April 14 – Morgan Stanley Finance LLC priced $251,000 of 0% buffered jump securities due Oct. 8, 2021 linked to the worse performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes at or above its initial level, the payout at maturity will be par plus the upside payment of 22%.
If either index falls by up to 10% of its initial level, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the lesser-performing underlying 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: | Buffered jump securities
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Underlying indexes: | S&P 500, Dow Jones industrial average
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Amount: | $251,000
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Maturity: | Oct. 8, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index gains, par plus 22%; if either index falls by up to 10%, par; otherwise, 1% loss per every 1% decline of worse performing index beyond 10%
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Initial levels: | 2,488.65 for S&P and 21,052.53 for Dow
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Buffer levels: | 2,239.785 for S&P and 18,947.277 for Dow, 90% of initial levels
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Pricing date: | April 3
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Settlement date: | April 9
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61770FXS0
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