Published on 6/5/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $4.23 million fixed-income buffered securities on S&P, Russell
By Kiku Steinfeld
Chicago, June 5 – Morgan Stanley Finance LLC priced $4.23 million of 6.75% fixed-income buffered securities due June 3, 2021 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If each index finishes at or above the 80% buffer level, the payout will be par.
Otherwise, investors will lose 1.25% for each 1% decline of the least performing index beyond the buffer.
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: | Fixed-income buffered securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $4,225,000
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Maturity: | June 3, 2021
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Coupon: | 6.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par unless either index falls by more than 20%, in which case 1.25% loss for each 1% decline of worse-performing index beyond 20%
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Initial levels: | 3,029.73 for S&P and 1,400.673 for Russell
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Buffer levels: | 2,423.784 for S&P and 1,120.538 for Russell; 80% of initial levels
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Pricing date: | May 29
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Settlement date: | June 2
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61771BLC6
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