Published on 9/2/2015 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6.78 million buffered digital notes on S&P 500
By Susanna Moon
Chicago, Sept. 2 – Morgan Stanley priced $6.78 million of 0% buffered digital notes due Aug. 31, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 90% barrier level, the payout at maturity will be the maximum settlement amount of $1,120 for each $1,000 principal amount.
Otherwise, investors will lose 1.1111% for each 1% decline beyond 10%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Buffered digital notes
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Underlying index: | S&P 500
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Amount: | $6,775,000
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Maturity: | Aug. 31, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If finishes at or above 90% barrier, par plus 12%; otherwise, 1.1111% loss for each 1% decline beyond 10%
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Index level: | 1,987.66
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Barrier level: | 90% initial level
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Pricing date: | Aug. 27
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Settlement date: | Sept. 3
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip:
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