Published on 5/16/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $9.60 million capped gears linked to index basket
By Marisa Wong
Morgantown, W.Va., May 16 – Morgan Stanley Finance LLC priced $9,595,000 of 0% capped gears due June 30, 2020 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index with an initial weight of 20%, the Nikkei Stock Average index with an initial weight of 20%, the Swiss Market index with an initial weight of 7.5%, the S&P/ASX 200 index with an initial weight of 7.5% and the Hang Seng index with an initial weight of 5%.
The payout at maturity will be par of $10 plus 3 times any basket gain, capped at par plus 28.5%. Investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as placement agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Capped gears
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Underlying basket: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), the S&P/ASX 200 index (7.5% weight) and the Hang Seng index (5% weight)
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Amount: | $9,595,000
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Maturity: | June 30, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 3 times any basket gain, capped at par plus 28.5%; full exposure to any basket decline
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Initial index levels: | 3,500.41 for Stoxx, 7,428.19 for FTSE, 22,258.73 for Nikkei, 9,724.27 for Swiss, 6,385.646 for S&P/ASX, 29,605.01 for Hang Seng
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Pricing date: | April 26
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Settlement date: | April 30
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Agent: | Morgan Stanley & Co. LLC with UBS Financial Services Inc. as dealer
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Fees: | 2%
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Cusip: | 61768Y174
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