Published on 1/7/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $700,000 of buffered participation securities tied to S&P
By Wendy Van Sickle
Columbus, Ohio, Jan. 7 – Morgan Stanley Finance LLC priced $700,000 of 0% buffered participation securities due Jan. 5, 2024 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The payout at maturity will be par plus 105% of any index gain.
Investors will receive par if the index falls by up to 40% and will lose 1% for every 1% decline beyond the 40% buffer, subject to a minimum payout of $400 per $1,000 of notes.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered participation securities
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| Underlying index: | S&P 500
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| Amount: | $700,000
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| Maturity: | Jan. 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 105% of any index gain; par if the final index level is at least 60% of the initial level; otherwise, investors will be exposed to losses beyond the 40% buffer, subject to minimum payout of $400 per $1,000 of notes
|
| Initial index level: | 2,485.74
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| Buffer level: | 1,491.444, 60% of initial level
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| Pricing date: | Dec. 28
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| Settlement date: | Jan. 7
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61768DVA0
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