Published on 7/26/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $5 million step-down trigger autocallables on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, July 26 – Morgan Stanley Finance LLC priced $5 million of 0% step-down trigger autocallable notes due July 26, 2022 linked to the lowest performing of the Russell 2000 index and the Euro Stoxx 50 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 a call return of 11.2% if each index closes at or above its initial level on an annual observation date or at or above its 70% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return with full exposure to any losses of the worse performing index.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Step-down trigger autocallable notes
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Underlying indexes: | Russell 2000, Euro Stoxx 50
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Amount: | $5 million
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Maturity: | July 26, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus return with full exposure to any losses of the worse performing index
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Call: | At par plus a call return of 11.2% per year if each index closes at or above its initial level on any annual observation date after one year or at or above its 65% downside threshold on the final valuation date
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Initial levels: | 1,435.839 for Russell, 3,415.71 for Euro Stoxx
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Downside thresholds: | 1,005.09 for Russell, 2,416.2 for Euro Stoxx; 70% of initial levels
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Strike date: | July 21
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Trade date: | July 24
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Settlement date: | July 26
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Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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Fees: | None
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Cusip: | 61766X400
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