Published on 5/16/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $6.19 million trigger gears linked to index basket
By Marisa Wong
Morgantown, W.Va., May 16 – Morgan Stanley Finance LLC priced $6.19 million of 0% trigger gears due April 30, 2029 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 4.4 times any basket gain.
Investors will receive par if the basket falls by up to 35% and will be fully exposed to any losses if it finishes below its 65% downside threshold.
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: | Trigger 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: | $6,190,540
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Maturity: | April 30, 2029
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 4.4 times any basket gain; par if basket falls by up to 35% and full exposure to any losses if basket finishes below 65% downside threshold
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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: | 5%
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Cusip: | 61768X804
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