Published on 6/7/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.82 million buffered PLUS tied to index basket
By Sarah Lizee
Olympia, Wash., June 7 – Morgan Stanley Finance LLC priced $1.82 million of 0% buffered Performance Leveraged Upside Securities due June 10, 2021 linked to a basket of the S&P 500 index with a 70% weight, the S&P MidCap 400 index with a 20% weight and the Russell 2000 index with a 10% weight, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
At maturity, if the basket gains, the payout will be par plus 130% of the basket return, capped at par plus 22.4%.
If the final basket value is less than the initial basket value but is greater than or equal to 88% of the initial basket value, investors will receive par.
If the final basket value is less than 88% of the initial basket value, investors will lose 1% for every 1% decline beyond 12%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Basket components: | S&P 500 index (70% weight), S&P MidCap 400 index (20% weight) and Russell 2000 index (10% weight)
|
| Amount: | $1.82 million
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| Maturity: | June 10, 2021
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the basket gains, par plus 130% of the basket return, capped at par plus 22.4%; if the final basket value is less than the initial basket value but is greater than or equal to 88% of the initial basket value, par; if the final basket value is less than 88% of the initial basket value, 1% loss for every 1% decline beyond 12%
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| Initial levels: | 2,826.15 for S&P, 1,874.71 for MidCap, 1,506.793 for Russell
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| Pricing date: | June 5
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| Settlement date: | June 10
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61769HFM2
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