Published on 8/27/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $8.9 million buffered digital index-linked notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Aug. 27 – Morgan Stanley Finance LLC priced $8.9 million of 0% buffered digital notes due Oct. 20, 2022 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 greater than or equal to 87.5% of the initial level, the payout at maturity will be par plus 6.4%.
Otherwise, investors will lose 1.1429% for every 1% that the index declines beyond 12.5%.
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 digital notes
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Underlying index: | S&P 500 index
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Amount: | $8.9 million
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Maturity: | Oct. 20, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is greater than or equal to 87.5% of the initial level, $1,064 per $1,000 principal amount of notes; otherwise, investors will lose 1.1429% for every 1% that the index declines beyond 12.5%
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Initial index level: | 4,166.45
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Threshold level: | 3,645.64375; 87.5% of initial level
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Pricing date: | June 18
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Settlement date: | June 25
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 1.16%
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Cusip: | 61773FAE3
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