Published on 2/12/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $510,000 buffered PLUS tied to index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – Morgan Stanley Finance LLC priced $510,000 of 0% buffered Performance Leveraged Upside Securities due Feb. 11, 2022 linked to the S&P 500 index with a 50% weight, the Euro Stoxx 50 index with a 30% weight and the SPDR S&P MidCap 400 ETF trust with a 20% weight, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.21 times any basket gain.
Investors will receive par if the basket falls by up to 20% and will lose 1% for each 1% decline beyond the buffer.
The notes are guaranteed by Morgan Stanley.
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 Performance Leveraged Upside Securities
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Basket components: | S&P 500 index (50% weight), Euro Stoxx 50 (30% weight), SPDR S&P MidCap 400 ETF trust (20% weight)
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Amount: | $510,000
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Maturity: | Feb. 11, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 121% of any basket gain; if basket falls by up to 20%, par; otherwise, 1% loss per 1% decline beyond 20%
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Initial level: | 2,707.88 for S&P, 3,135.62 for Stoxx, $337.41 for ETF trust
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Pricing date: | Feb. 8
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Settlement date: | Feb. 13
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.75%
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Cusip: | 61768DN68
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