Published on 8/21/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.45 million market plus notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., Aug. 21 – Morgan Stanley Finance LLC priced $5.45 million of 0% market plus notes due Feb. 20, 2020 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 finishes at or above its 83.78% knock-out level, the payout at maturity will be par plus the greater of the index return and the contingent minimum return of 0%.
Otherwise, the payout will be par plus the index return, with full exposure to any losses.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Market plus notes
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Underlying index: | S&P 500
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Amount: | $5.45 million
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Maturity: | Feb. 20, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, finishes flat or falls by up to 16.22%, par plus index return, subject to floor of 0%; otherwise, 1% loss per 1% decline
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Initial index level: | 2,850.13
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Knock-out level: | 2,387.839, 83.78% of initial level
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Final level: | Average of closing levels on five trading days ending Feb. 14, 2020
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Pricing date: | Aug. 17
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Settlement date: | Aug. 22
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Agent: | Morgan Stanley & Co. LLC
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Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1.25%
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Cusip: | 61768DCF0
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