Published on 9/9/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $854,000 buffered PLUS notes tied to S&P 500
By Sarah Lizee
Olympia, Wash., Sept. 9 – Morgan Stanley Finance LLC priced $854,000 of 0% buffered PLUS notes due Sept. 2, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par plus 200% of the index gain, capped at $1,185 per $1,000 notes, if the index finishes above its initial value.
Investors will receive par if the index declines but not more than 10%.
Otherwise, investors will be exposed to the losses of the index beyond the 10% buffer.
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 PLUS
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Underlying index: | S&P 500
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Amount: | $854,000
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Maturity: | Sept. 2, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of the index percent increase, capped at $1,185 per $1,000 notes, if index finishes above initial level; par if index declines but not more than 10%; exposure to losses of index beyond 10% buffer
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Initial level: | 2,926.46
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Buffer level: | 2,633.814, 90% of initial level
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Pricing date: | Aug. 30
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Settlement date: | Sept. 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.9%
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Cusip: | 61769HNX9
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