Published on 2/21/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.2 million digital notes tied to index basket
By Marisa Wong
Morgantown, W.Va., Feb. 21 – Morgan Stanley Finance LLC priced $2.2 million of 0% digital notes due Aug. 17, 2022 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket consists of the Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Tokyo Stock Price index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is zero or positive, the payout at maturity will be the greater of the threshold settlement amount, $1,822.50 per $1,000 principal amount, and par plus the basket return. Investors will be fully exposed to any basket decline.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Digital notes
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Underlying basket: | Euro Stoxx 50 index with a 37% weight, FTSE 100 index with a 23% weight, Topix index with a 23% weight, Swiss Market index with a 9% weight and S&P/ASX 200 index with an 8% weight
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Amount: | $2.2 million
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Maturity: | Aug. 17, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is zero or positive, greater of $1,822.50 per $1,000 principal amount and par plus the basket return; full exposure to any basket decline
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Initial levels: | 3,308.89 for Euro Stoxx, 7,268.56 for FTSE, 1,539.12 for Topix, 8,426.15 for Swiss Market and 5,755.242 for S&P/ASX
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Pricing date: | Feb. 14
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Settlement date: | Feb. 22
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 4.8%
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Cusip: | 61768CFF9
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