Published on 6/19/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $829,000 jump autocallables on three indexes
By Wendy Van Sickle
Columbus, Ohio, June 19 – Morgan Stanley Finance LLC priced $829,000 of 0% jump securities with autocallable feature due June 23, 2025 linked to the worst performing of the S&P 500 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 13% if each index closes at or above its initial level on any annual review date.
The payout at maturity will be par plus 78% if each index finishes at or above its initial level. If the worst performing index declines by no more than 30%, the payout will be par. If the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the underwriter.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Jump securities with autocallable feature
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Underlying indexes: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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Amount: | $829,000
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Maturity: | June 23, 2025
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Coupon: | 0%
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Price: | Par
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Call: | At par plus 13% a year if each index closes at or above initial level on any annual review date
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Payout at maturity: | If each index finishes at or above initial level, par plus 78%; if worst performing index falls by up to 30%, par; otherwise, full exposure to decline of worst performing index
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Initial levels: | 2,866.98 for S&P, 26,089.61 for Dow, 1,522.499 for Russell
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Downside thresholds: | 2,020.886 for S&P, 18,262.727 for Dow, 1,065.749 for Russell; 70% of initial levels
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Pricing date: | June 14
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Settlement date: | June 21
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Agent: | Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61769HGL3
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