By Kiku Steinfeld
Chicago, Nov. 17 – Morgan Stanley Finance LLC priced $900,000 of 0% leveraged buffered index-linked notes due March 19, 2024 tied 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 1.5times the index gain, subject to a maximum return of par plus 26.1%.
Investors will receive par if the index falls by up to 10% and will share in losses at a rate of 1.1111% per 1% drop beyond the 10% buffer.
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 index-linked notes
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Underlying index: | S&P 500 index
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Amount: | $900,000
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Maturity: | March 19, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 1.5 times the index gain, capped at 26.1%; par if index falls by up to 10%; 1.1111% loss for every 1% decline beyond 10% buffer
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Initial level: | 4,262.45
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Buffer level: | 3,836.205; 90% of initial level
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Pricing date: | March 15
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Settlement date: | March 22
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61773QLW7
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