Published on 11/18/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.1 million trigger PLUS linked to basket
By Sarah Lizee
Olympia, Wash., Nov. 18 – Morgan Stanley Finance LLC priced $1.1 million of 0% trigger Performance Leveraged Upside Securities due Nov. 12, 2021 tied to a basket that consists of the S&P 500 index with a 40% weight, the iShares MSCI EAFE exchange-traded fund with a 30% 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.
If the basket finishes above its initial level, the payout at maturity will be par plus 150% of the basket return, subject to a maximum return of 22%.
If the basket finishes at or below its initial level but at or above its trigger level, the payout will be par. The trigger level is 75% of the initial basket level.
If the basket finishes below its trigger level, investors will be exposed to the basket’s decline from its initial level.
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: | Trigger Performance Leveraged Upside Securities
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| Underlying basket: | S&P 500 index (40% weight), iShares MSCI EAFE ETF (30% weight), S&P MidCap 400 index (20% weight) and Russell 2000 index (10% weight)
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| Amount: | $1.1 million
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| Maturity: | Nov. 12, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket finishes above initial level, par plus 150% of basket return, subject to maximum return of 22%; if basket finishes at or below initial level but at or above trigger level, par; if basket finishes below trigger level, exposure to basket’s decline from initial level
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| Initial levels: | 3,093.08 for S&P 500, 1,598.864 for Russell 2000, 1,998.39 for S&P MidCap 400 and $68.38 for ETF
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| Pricing date: | Nov. 8
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| Settlement date: | Nov. 14
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.25%
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| Cusip: | 61769HZR9
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