Published on 2/27/2024 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.44 million enhanced buffered jump securities on indexes, ETF
By William Gullotti
Buffalo, N.Y., Feb. 27 – Morgan Stanley Finance LLC priced $3.44 million of 0% enhanced buffered jump securities due March 18, 2025 linked to the Utilities Select Sector SPDR Fund, the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each underlier finishes at or above its 90% downside threshold, the payout at maturity will be par plus the 11.8% digital payment.
If the worst performer finishes below its downside threshold but declines by no more than 25%, investors will receive par plus the digital payment minus 1% for each 1% decline of the worst performer beyond 10%.
Otherwise, investors will lose 1% for each 1% decline of the worst performer beyond 10%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Enhanced buffered jump securities
|
| Underlying assets: | Utilities Select Sector SPDR Fund, S&P 500 index and Russell 2000 index
|
| Amount: | $3.44 million
|
| Maturity: | March 18, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each underlier finishes at or above downside threshold, par plus digital payment; if worst performer declines by more than 10% but no more than 25%, par plus digital payment minus 1% for each 1% decline of worst performer beyond 10%; otherwise, 1% loss for each 1% decline of worst performer beyond 10%
|
| Initial levels: | 1,964.174 for Russell, 4,953.17 for S&P, $59.96 for ETF
|
| Downside thresholds: | 1,767.757 for Russell, 4,457.853 for S&P, $53.964 for ETF; 90% of initial levels
|
| Digital barriers: | 1,473.131 for Russell, 3,714.878 for S&P, $44.97 for ETF; 75% of initial levels
|
| Digital payment: | 11.8%
|
| Strike date: | Feb. 13
|
| Pricing date: | Feb. 20
|
| Settlement date: | Feb. 23
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.3%
|
| Cusip: | 61771WJ82
|
|
|
|
|
© 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.
