Published on 2/12/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $6.38 million buffered PLUS on S&P 500
By Sarah Lizee
Olympia, Wash., Feb. 12 – Morgan Stanley Finance LLC priced $6.38 million of 0% buffered Performance Leveraged Upside Securities due Aug. 3, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return of 16%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $6,376,360
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Maturity: | Aug. 3, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 200% of index return, subject to 16% maximum return; par if index declines by buffer level or less; 1% loss for every 1% that index declines beyond buffer
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Initial level: | 3,225.52
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Buffer level: | 2,902.968, 90% of initial level
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Agent: | Morgan Stanley & Co. LLC
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 3%
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Cusip: | 61770E836
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