Published on 3/23/2016 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $9.19 million leveraged buffered notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, March 23 – Morgan Stanley priced $9.19 million of 0% leveraged buffered notes due May 22, 2018 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any index gain, up to a maximum settlement amount of $1,223.50 for each $1,000 principal amount of notes.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
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: | $9,191,000
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Maturity: | May 22, 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 150% of index return, subject to $1,223.50 maximum return; par if index declines by up to 10%; otherwise, 1.1111% loss for every 1% that index declines beyond 10%
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Initial index level: | 2,049.58
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Buffer level: | 1,844.622, 90% of initial level
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Pricing date: | March 18
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Settlement date: | March 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2%
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Cusip: | 61761J2K4
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