By Sarah Lizee
Olympia, Wash., Aug. 30 – Morgan Stanley Finance LLC priced $2 million of 0% buffered Performance Leveraged Upside Securities due Jan. 6, 2025 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of each index is greater than or equal to 98% of its initial value, the payout will be $10.89 per $10 note plus 1.8775% for each 1% that the lesser performing index exceeds its 98% of its initial value, with payout capped at par plus 84%.
If either index falls by up to 88% of its initial value, the payout will be par plus 0.89% for each 1% that the lesser performing index exceeds 88% of its initial value.
If either index falls by more than 88% of its initial value, investors will lose 1% for every 1% decline of the lesser performing index beyond 12%.
The initial value for each index will be the average of the closing levels on each business day during the three-month period from and including Aug. 23 to and including Nov. 20.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered Performance Leveraged Upside Securities
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $2 million
|
| Maturity: | Jan. 6, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the return of each index is greater than or equal to 98% of its initial value, $10.89 per $10 note plus 1.8775% for each 1% that the lesser performing index exceeds its 98% of its initial value, with payout capped at par plus 84%; if either index falls by up to 88% of its initial value, par plus 0.89% for each 1% that the lesser performing index exceeds 88% of its initial value; if either index falls by more than 88% of its initial value, 1% loss for every 1% decline of the lesser performing index beyond 12%
|
| Initial levels: | Average of the closing levels on each business day during the three-month period from and including Aug. 23 to and including Nov. 20
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1%
|
| Cusip: | 61769Q816
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
