Published on 5/18/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.25 million leveraged buffered notes on S&P 500
By Marisa Wong
Los Angeles, May 18 – Morgan Stanley Finance LLC priced $5.25 million of 0% leveraged buffered notes due Dec. 29, 2021 linked to the S&P 500 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 140% of the index return, subject to a maximum settlement amount of $1,250.60 per $1,000 of notes. Investors will receive par if the index declines by 12.5% or less and will lose 1.1429% for every 1% that the index declines beyond 12.5%.
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 notes
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Underlying index: | S&P 500
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Amount: | $5.25 million
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Maturity: | Dec. 29, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 140% of any index gain, capped at $1,250.60 per $1,000 of notes; par if index falls by up to 12.5%; 1.1429% loss for every 1% drop beyond 12.5%
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Initial level: | 2,912.43
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Buffer level: | 2,548.37625, 87.5% of initial level
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Pricing date: | April 30
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Settlement date: | May 7
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61771BCB8
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