Published on 3/4/2016 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $4.09 million leveraged buffered notes on S&P 500
By Tali Rackner
Norfolk, Va., March 4 – Morgan Stanley priced $4.09 million of 0% leveraged buffered notes due May 10, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, subject to a maximum settlement amount of $1,333 per $1,000 principal amount.
If the index return is zero or negative but not below negative 15%, the payout will be par. If the index return is below negative 15%, investors will lose 1.1765% for every 1% that the index declines beyond 5%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley
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Issue: | Leveraged buffered notes
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Underlying index: | S&P 500
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Amount: | $4,093,000
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Maturity: | May 10, 2018
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If index return is positive, par plus 1.5 times index return, subject to 22.2% maximum return; par if index declines by up to 15%; otherwise, 1.1765% loss for every 1% that index declines beyond 15%
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Initial index level: | 1,948.05
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Buffer level: | 1,655.8425, 85% of initial level
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Pricing date: | Feb. 26
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Settlement date: | March 4
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61761JY52
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