Published on 4/16/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.88 million leveraged buffered notes on index basket
By Susanna Moon
Chicago, April 16 – Morgan Stanley Finance LLC priced $2.88 million of 0% capped leveraged buffered notes due Aug. 10, 2020 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes 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.
The payout at maturity will be par plus 220% of any basket gain, up to a maximum settlement amount of $1,561 for each $1,000 principal amount.
Investors will receive par if the basket falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Capped leveraged buffered notes
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Underlying basket: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Tokyo Stock Price (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $2,881,000
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Maturity: | Aug. 10, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 220% of any basket gain, capped at 56.1%; par if basket falls by up to 20%; 1.25% loss per 1% drop beyond 20%
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Initial levels: | 3,408.10 for Stoxx, 7,183.64 for FTSE, 1,719.30 for Topix, 8,671.04 for Swiss Market and 5,788.739 for S&P/ASX
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Pricing date: | April 6
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Settlement date: | April 13
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61768CS73
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