The following example is based on a Morgan Stanley PLUS, assuming that the risk free rate is 5%, the implied volatility of the underlying stock is 25%, the dividend yield of the underlying stock is 1% and the credit default swap ("CDS") spread of the issuer (Morgan Stanley) is 1%. The contract has a maturity of 1 year. The PLUS has a leverage ratio of 2.5 and a cap rate of 20%.

The following example is based on a Morgan Stanley Buffered PLUS, assuming that the risk free rate is 5%, the implied volatility is 25%, the dividend yield of the underlying stock is 1%, and the credit default swap ("CDS") spread of the issuer is 1%. The product has a two-year maturity, a leverage ratio of 2.5, a cap rate of 20% and a 15% loss buffer.

The following PPN valuation example assumes the risk free rate is 5%, the implied volatility of the underlying stock is 25%, the dividend yield of the underlying stock is 1%, and the credit default swap ("CDS") spread of the issuer is 1%. The note has a two-year maturity, a leverage ratio of 2.5, and a cap rate of 20%.

The SLCG Economic Consulting Structured Product Calculators are offered solely for educational purposes. For advice, please consult your financial adviser or legal professional.