By Taylor Fox
New York, Feb. 16 – Morgan Stanley Finance LLC priced $2 million 0% buffered securities due April 3, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the final index level is greater than the 87% strike index value, the payout at maturity will be positive.
The payout will be par plus 86% of the index strike return.
The index strike return is the final value of the index minus 87% - divided by the initial level.
If the index declines and is equal to 87% of its initial level, the payout will be par.
Investors will lose 1% for every 1% that the index declines below the 13% buffer level.
The initial level will be the average of the market days in the three-month period from Jan. 7 to April 8.
The final level will be the average of the closing levels on market days from Jan. 2, 2026 to March 31, 2026.
Morgan Stanley & Co. Inc. is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Issue: | Buffered securities
|
| Underlying index: | S&P 500
|
| Amount: | $2 million
|
| Maturity: | April 3, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the final index level is greater than the 87% strike index value, the payout will be par plus 86% of the index strike return which is the final level minus 87% divided by the initial level; if index finishes at 87% of its initial level, par; otherwise, 1% loss for every 1% drop beyond 13% buffer
|
| Initial level: | 3,799.61
|
| Strike index level: | 87% of initial level
|
| Buffer level: | 87% of initial level
|
| Pricing date: | Jan. 11
|
| Settlement date: | Jan. 14
|
| Agents: | Morgan Stanley & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 61771J461
|
|
|
© 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.
