Published on 3/20/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.33 million enhanced buffered jump notes tied to S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 20 – Morgan Stanley Finance LLC priced $2.33 million of 0% enhanced buffered jump securities due March 17, 2022 linked to the worse performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes at or above the 90% downside threshold, the payout at maturity will be par plus the greater of 20% and the return of the laggard index, subject to a 30% maximum return.
Otherwise, investors will be exposed to any decline of the worse performing index beyond 10%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Enhanced buffered jump securities
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Underlying indexes: | S&P 500, Russell 2000
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Amount: | $2,325,000
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Maturity: | March 17, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If each index finishes at or above 90% downside threshold, par plus greater of 20% and return of laggard index, subject to 30% maximum return; otherwise, 1% loss per 1% decline of worse performer beyond 10%
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Initial levels: | 2,808.48 for S&P and 1,549.635 for Russell
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Downside thresholds: | 2,527.632 for S&P and 1,394.672 for Russell, 90% of initial levels
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Pricing date: | March 14
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Settlement date: | March 19
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.1%
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Cusip: | 61768D3H6
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