Published on 7/31/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $298,000 autocallable buffered jump securities on S&P, Russell
By Sarah Lizee
Olympia, Wash., July 31 – Morgan Stanley Finance LLC priced $298,000 of 0% buffered jump securities with autocallable feature due Aug. 2, 2022 linked to the worse performing of the S&P 500 index and the 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 automatically called at par plus a premium on the annual call date, July 29, 2021, if each index closes at or above its call level. The premium will be 6% per year. The call level for each index will be 100% of its initial level.
If each index finishes at or above its initial level, the payout at maturity will be par plus 1.25 times the return of the least performing index.
If either index falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the lesser-performing underlying index declines beyond 15%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Buffered jump securities with autocallable feature
|
Underlying indexes: | S&P 500, Russell 2000
|
Amount: | $298,000
|
Maturity: | Aug. 2, 2022
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If each index finishes at or above its initial level, par plus 1.25 times return of lesser performing index; if either index falls by up to 15%, par; 1% loss for every 1% that the lesser-performing underlying index declines beyond 15%
|
Call: | Automatically at par plus a premium on the annual call date, July 29, 2021, if each index closes at or above its call level; premium will be 6% per year; call level for each index will be 100% of its initial level
|
Initial levels: | 3,218.44 for S&P, 1,469.755 for Russell
|
Buffer levels: | 2,735.674 for S&P, 1,249.292 for Russell, 85% of initial levels
|
Pricing date: | July 28
|
Settlement date: | July 31
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 2.6%
|
Cusip: | 61771BSK1
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.