Mariana Dual Index Income Kick Out Plan - November 2024

Mariana Capital

Mariana Dual Index Income Kick Out Plan - November 2024

The Mariana Dual Index Income Kick Out Plan - November 2024 is a maximum 10 year, two week Plan offering a Potential Income of 1.7075% for each quarter the Plan runs (6.83% p.a.).

  • Potential return: 1.7075 % for each quarter the Plan runs (6.83% p.a.)
  • Product type: Capital at Risk
  • Investment type: Income/Kick-Out
  • Closing Date: 6 November 2024
  • ISA Transfer: 21 October 2024
  • Start Date: 15 November 2024
  • Maturity Date: 15 November 2034
  • Market / index link: FTSE 100 Index and S&P 500 Index
  • Counterparty: Morgan Stanley
  • Investment term: 10 years, 2 weeks
  • Kick-out / Early maturity: Yes
  • Barrier type: End of Term
  • Barrier level: 65%
Important: The closing date for applications by cheque is 4 November 2024 and by bank transfer is 6 November 2024.
The closing date for ISA transfer applications is 21 October 2024.

Product Literature & Forms

You should always read the relevant plan brochure and any other plan documentation, for full details of the plan’s features, including any risks, and the terms and conditions. In addition to the plan brochure and terms and conditions there are other important documents, including a Key Information Document ('KID'), that you should consider, before deciding to invest in the plan.

If you do not fully understand the risks or are unsure as to the suitability of the investment, please contact us

Complete the form and we will email you the requested literature and instructions on how to invest.

Select the application form you require

How to Invest?

1 Firstly, print off and complete our Appropriate Assessment Questionnaire. All applications require two proofs of identity - see the questionnaire for more information.

2 Next download, print and complete the application form available. Note that product applications will have multiple documents, so please choose the one relevant to you.

3 Place all completed documents - questionnaire, proofs of identity, application form and cheques for payment - in an envelope and post to:

Best Price Financial Services,
The Tythe Barn, 5 Eglwys Nunnydd,
Margam, Neath Port Talbot
SA13 2PS

Further Information

The Mariana Dual Index Income Kick Out Plan - November 2024 is a ten year, two week Plan based on the performance of the FTSE 100 Index and S&P 500®, the Underlyings. The Plan is constructed to offer a Potential Income of 1.7075% per quarter (6.83% p.a) providing the Closing Price of both the Underlyings is at or above 75% of the Start Level on a quarterly Observation Date.

If the Closing Price of the worst performing Underlying is below 75% of the Start Level on a quarterly Observation Date, no income is paid and the income for that period is permanently lost.

You will only receive the quarterly Potential Income if the income criteria is fulfilled on a quarterly Observation Date. To note, if, on all of the quarterly Observation Dates the income criteria is not fulfilled, you will receive no Potential Income throughout the term of the Plan.

The Plan has the possibility to kick out from the end of year 2 and quarterly thereafter. Should the Closing Price of both the Underlyings be at or above 105% of the Start Level on any one of the kick out Observation Dates, the Plan will mature early paying the Potential Income for that quarter and returning Initial Capital in full (subject to Counterparty Risk).

If the Plan has not already kicked out, Initial Capital will be returned in full at the end of the Plan’s term if on the Maturity Date (15 November 2034) the Closing Price of the worst performing Underlying is not less than 65% of the Start Level.

You are at risk of losing your capital if the Finish Level of the worst performing Underlying is less than 65% of the Start Level (representing a decline of more than 35% from the Start Level), your Initial Capital will be lost at a rate of 1% for every 1% the Closing Price of the Underlying is below the Start Level.

About Morgan Stanley & Co. International plc: Morgan Stanley & Co. International plc and its subsidiary undertakings are part of a group whose principal activity is the provision of financial services to corporations, governments and financial institutions. Morgan Stanley & Co. International plc is authorised by the Prudential Regulation Authority (“PRA”) and regulated by the PRA and the United Kingdom Financial Conduct Authority. 

More information on Morgan Stanley & Co. International plc can be found on their website www.morganstanley.com or by requesting a copy of their prospectus from Mariana. The prospectus contains information and contractual terms for the securities issued by Morgan Stanley & Co. International plc. 

You may lose part and up to all your investment if Morgan Stanley & Co. International plc goes into liquidation and defaults on paying your Plan return and the repayment of your Initial Capital. The risk that Morgan Stanley & Co. International plc goes into liquidation is called Counterparty Risk. 

Securities issued by Morgan Stanley & Co. International plc. and Morgan Stanley are not covered by the Financial Services Compensation Scheme (FSCS). Therefore, if the Issuer and/ or the Guarantor become insolvent you would not be covered by the FSCS. 

The Plan is not endorsed, sponsored or otherwise promoted by Morgan Stanley or any of its affiliates. None of Morgan Stanley or its affiliates are responsible for the contents of this brochure and nothing in this document should be considered a representation or warranty by Morgan Stanley to any person regarding whether investing in the product is suitable or advisable for such a person. Neither Morgan Stanley, nor any of its affiliates, has provided advice, nor made any recommendation about investments or tax in relation to this product.

Don’t Forget the Risks 

As with all forms of investment there are risks involved. These plans do not guarantee to repay the money invested. The potential returns of the plans and repaying the money invested are linked to the level of the stock market and also depend on the financial stability of the Issuer and Counterparty.  

Past performance is not a guide to future performance and may not be repeated.  Investment involves risk. The performance data does not take account of the commissions and costs incurred on the issue and redemption of shares. The value of investments and the income from them may go down as well as up and investors may not get back any of the amount originally invested.  Because of this, an investor is not certain to make a profit on an investment and may lose money.  Exchange rate changes may cause the value of overseas investments to rise or fall. 

The promotion of the plans does not constitute ‘advice’ to invest. Advice is always specific to an individual investor’s circumstances and needs, following the process of ‘know your customer’, with the aim of ensuring that any product is suitable for an investor. 

As always, the recommendation and common-sense approach is to consider product solutions as a portfolio, never over-exposing oneself to a point of financial pain and suffering liquidity or counterparty over exposure. 

Don’t forget the risks

All investments carry risk. It is identifying those risks, understanding how they may affect an investment and assessing whether an investment is suitable for your circumstances that is important.

The potential returns of most structured products and repaying the money invested are usually linked to the level of a stock market index and also depend on the financial stability of the issuer and counterparty bank. You should only consider investing if you understand and accept the risk of losing some or all of any money invested.

You should always read the relevant plan brochure and any other plan documentation, for full details of a plan’s features, including any risks, and the terms and conditions. In addition to the plan brochure and terms and conditions there are other important documents, including a Key Information Document (‘KID’), that you should consider, before deciding to invest in a plan.

Structured products should only be considered as part of a diversified and balanced portfolio.

Below is a summary of some of the main risks usually associated with an investment in structured products plans:

Market risk to potential returns

Whether or not a plan generates the potential returns for investors usually depends on the closing level of the relevant index on the relevant dates for the plan, i.e. the kick-out anniversary dates for kick-out products; the early maturity dates and end dates for growth products; the annual income dates for income products.

If the index closes below the level needed, for the plan or plan options chosen, on all of the relevant dates, the plan or plan options will not generate a return.

Market risk to repayment of money invested in 'Capital-at-Risk' plans

If the closing level of the relevant index is below the level needed on all of the kick-out anniversary dates or early maturity dates, if relevant for the plan or plan options chosen, and on the end date, repaying the money invested at maturity will usually depend on the closing level of the index on the end date..

Different structured products use different types of protection barriers. Some products use barriers that are observed every day that can therefore be breached on any day during the investment term, while some products use barriers that are only observed at the end of the investment term and that cannot therefore be breached during the investment term.

Market risk to the repayment of money invested on the end date will depend on the type of barrier and its level.

For example, for a product with an end of term barrier, set at 60% of the start level, if the index for the plan closes at or above 60% of the start level, on the end date, money invested will be repaid in full (less any agreed adviser fees and withdrawals). However, if on the end date the index closes below 60% of the start level, the amount of money repaid (less any agreed adviser fees and withdrawals) will be reduced by the amount that the index has fallen. For example, if the index has fallen by 45%, the repayment of money invested will be reduced by 45% (meaning that investors will get 55% of their investment back).

'Protected' types of structured products

Some structured product plans are designed so that they are 100% protected from stock market risk at the end date.

It is important to understand that even if a structured product plan is designed with 100% protection from stock market risk, at the end date, it will still usually have issuer and counterparty bank risk. In other words, both the potential returns of the plan and repaying the money invested at the end date will depend on the financial stability of the issuer and counterparty bank. If the issuer and counterparty bank become insolvent, or similar, or fail to be able to meet their obligations, it is likely that investors will receive back less than they invested.

Issuer and counterparty bank risk

Both the potential returns and repaying the money invested of most structured products depend on the financial stability of the issuer and counterparty bank. If the issuer and counterparty bank become insolvent, or similar, or fail to be able to meet their obligations, it is likely that investors will receive back less than they invested.

Financial Services Compensation Scheme ('FSCS') protection

It is important to understand that it is not usually possible to claim under the Financial Services Compensation Scheme if the issuer and counterparty bank fail to meet their obligations or if the stock market index that a plan links to falls.

Structured deposits

Structured deposit plans are deposit-based and will usually be fully protected from stock market risk at the end date and also benefit from the protection of the Financial Services Compensation Scheme, if the bank or building society is a licensed UK deposit taker.