Published on 10/12/2022 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $11.54 million digital index-linked notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Oct. 12 – Morgan Stanley Finance LLC priced $11.54 million of 0% digital notes due July 10, 2024 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 greater than or equal to 80% of the initial level, the payout at maturity will be $1,187.30 per $1,000 of notes.
Otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Digital notes
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Underlying index: | S&P 500 index
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Amount: | $11,536,000
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Maturity: | July 10, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index return is greater than or equal to 80% of the initial level, $1,187.30 per $1,000 of notes; otherwise, investors will lose 1.25% for every 1% that the index declines beyond 20%
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Initial index level: | 3,744.52
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Threshold level: | 2,995.616; 80% of initial level
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Pricing date: | Oct. 6
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Settlement date: | Oct. 14
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61774HMP0
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