Published on 5/24/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $879,000 buffered participation securities tied to S&P
By William Gullotti
Buffalo, N.Y., May 24 – Morgan Stanley Finance LLC priced $879,000 of 0% buffered participation securities due May 5, 2026 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.
The payout at maturity will be par plus any index gain capped at $1,450 per security.
Investors will receive par if the index declines by up to 20% and will lose 1% for every 1% index decline beyond the 20% buffer to a minimum payout of $200 per security.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Buffered participation securities
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Underlying index: | S&P 500
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Amount: | $879,000
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Maturity: | May 5, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at $1,450 per security; par if index falls by up to buffer; 1% loss for every 1% index decline beyond buffer
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Initial index level: | 4,181.17
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Buffer level: | 3,344.936 or 80% of initial level
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Pricing date: | April 30
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Settlement date: | May 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61771VQA1
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