Published on 6/14/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5.73 million leveraged buffered notes on MSCI EAFE
By Wendy Van Sickle
Columbus, Ohio, June 14 – Morgan Stanley Finance LLC priced $5.73 million of 0% leveraged buffered index-linked notes due July 18, 2023 tied to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index return is positive, the payout at maturity will be par plus 1.3 times the index gain, subject to a maximum return of $1,241.80 per $1,000 note.
Investors will receive par if the index falls by up to 12.5% and will share in losses at a rate of 1.1429% per 1% drop beyond the 12.5% buffer.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Leveraged buffered index-linked notes
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Underlying index: | MSCI EAFE
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Amount: | $5,727,000
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Maturity: | July 18, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 1.3 times the index gain, capped at $1,241.80 per note; par if index falls by up to 12.5%; 1.1429% loss for every 1% decline beyond 12.5% buffer
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Initial level: | 2,292.17
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Buffer level: | 2,005.64875; 87.5% of initial level
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Pricing date: | May 14
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Settlement date: | May 21
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61771VM64
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