By William Gullotti
Buffalo, N.Y., March 20 – Morgan Stanley Finance LLC priced $1.37 million of 0% leveraged buffered fund-linked notes due April 16, 2025 tied to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF gain, subject to a maximum return of par plus 21.3%.
Investors will receive par if the ETF falls by up to 10% and will share in losses at a rate of 1.1111% per 1% drop beyond 10%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Leveraged buffered fund-linked notes
|
| Underlying fund: | Energy Select Sector SPDR Fund
|
| Amount: | $1.37 million
|
| Maturity: | April 16, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF return is positive, par plus 200% of the ETF gain, capped at 21.3%; par if ETF falls by up to 10%; otherwise, 1.1111% loss for every 1% decline beyond 10%
|
| Initial level: | $91.29
|
| Buffer level: | $82.161; 90% of initial level
|
| Pricing date: | March 14
|
| Settlement date: | March 21
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.08%
|
| Cusip: | 61776LCJ4
|
|
|
|
|
© 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.
