Published on 8/8/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 add-on to trigger PLUS linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Aug. 8 – Morgan Stanley Finance LLC priced $250,000 of additional 0% trigger Performance Leveraged Upside Securities due March 21, 2024 linked an equally weighted basket of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The issuer priced $19.96 million of notes on March 18. Since then, $1 million has been retired. The total amount outstanding is now $19.21 million.
If the final basket level is greater than the initial basket level, the payout at maturity will be par plus 150% of the basket return, subject to a maximum return of 92.6%.
If the final basket level is less than or equal to the initial basket level but greater than or equal to 60% of the initial basket level, the payout will be par.
If the final basket level is less than 60% of the initial basket level, investors will lose 1% for every 1% that the basket declines from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying indexes: | Russell 2000 index and S&P 500 index, equally weighted
|
| Amount issued: | $20,211,000, increased from $19,961,000
|
| Amount outstanding: | $19,211,000 following retirement of $1 million principal amount
|
| Maturity: | March 21, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any basket gain, up to 92.6% maximum return; par if basket falls by up to 40%; otherwise, 1% loss per 1% basket decline
|
| Initial levels: | 1,563.932 for Russell 2000 and 2,832.94 for S&P 500
|
| Pricing dates: | March 18 for original issue and July 30 for $250,000 add-on
|
| Settlement dates: | March 21 for original issue and Aug. 1 for $250,000 add-on
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.4% for original issue; none for add-on
|
| Cusip: | 61768D3K9
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