Published on 6/21/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1 million autocallable jump securities on Euro Stoxx, Russell
By Marisa Wong
Morgantown, W.Va., June 21 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due May 31, 2024 linked to the worst performing of the Euro Stoxx 50 index 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 11% if each index closes at or above its initial level on any quarterly review date after one year.
The payout at maturity will be par plus 55% if each index finishes at or above its initial level. If the worst performing index declines by no more than 40%, the payout will be par. If the worst performing index finishes below its 60% 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: | Euro Stoxx 50 index and Russell 2000 index
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Amount: | $1 million
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Maturity: | May 31, 2024
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Coupon: | 0%
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Price: | Par
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Call: | At par plus 11% a year if each index closes at or above initial level on any quarterly review date after one year
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Payout at maturity: | If each index finishes at or above initial level, par plus 55%; if worst performing index falls by up to 40%, par; otherwise, full exposure to decline of worst performing index
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Initial levels: | 3,297.81 for Stoxx, 1,489.952 for Russell
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Downside thresholds: | 1,978.686 for Stoxx, 893,971 for Russell; 60% of initial levels
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Pricing date: | May 29
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Settlement date: | May 31
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 3.35%
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Cusip: | 61769HCQ6
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