Published on 10/2/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $469,000 buffered participation securities on Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Oct. 2 – Morgan Stanley Finance LLC priced $469,000 of 0% buffered participation securities due Sept. 30, 2025 linked to the worse performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above the initial level, the payout at maturity will be par plus the gain of the laggard index up to 39%.
If either index falls but not by more than 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% loss of lesser-performing index beyond the buffer.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Buffered participation securities
|
Underlying index: | Russell 2000 index and S&P 500 index
|
Amount: | $469,000
|
Maturity: | Sept. 30, 2025
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If final level of each is greater than initial index level, par plus the gain of lesser-performing index up to 39%; if lesser-performing index falls by up to 20%, par; otherwise, 1% loss for each 1% loss lesser-performing index beyond the buffer
|
Initial levels: | 3,298.46 for S&P, 1,474.908 for Russell
|
Buffer levels: | 2,638.768 for S&P, 1,179.926 for Russell, 80% of initial levels
|
Pricing date: | Sept. 25
|
Settlement date: | Sept. 30
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 4.25%
|
Cusip: | 61771BS88
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.