Published on 8/31/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million trigger PLUS with no cap tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 31 – Morgan Stanley Finance LLC priced $1 million of 0% trigger Performance Leveraged Upside Securities due March 5, 2026 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If each index finishes at or above its initial level, the payout at maturity will be par of $10 plus 200% of the gain of the worse performing index.
Investors will receive par if either index falls but by no more than 50% and will be fully exposed to any losses of the worse performing index if it finishes below the 50% trigger level.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500, Russell 2000
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Amount: | $1 million
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Maturity: | March 5, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of each is greater than initial index level, par plus 200% of lesser-performing index return; if lesser-performing index falls by up to trigger level, par; otherwise, full exposure to loss of lesser-performing index
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Initial levels: | 2,444.24 for S&P, 1,382.229 for Russell
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Trigger levels: | 1,222.12 for S&P, 691.115 for Russell, 50% of initial levels
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Pricing date: | Aug. 28
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Settlement date: | Aug. 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 5%
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Cusip: | 61768CNR4
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