Published on 6/11/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.72 million autocallable jump securities on Russell, S&P
By Kiku Steinfeld
Chicago, June 11 – Morgan Stanley Finance LLC priced $2.72 million of 0% jump securities with autocallable feature due June 9, 2022 linked to the worst performing of the Russell 200 index and the S&P 500 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 13.5% per year if each index closes at or above its initial level on June 10, 2021.
The payout at maturity will be par plus twice any gain of the least performing index. If any index remains flat or falls by up to 30% of its initial level, investors will receive par. Otherwise, investors will be fully exposed to the decline of the lesser performing 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: | Russell 200 index and S&P 500 index
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| Amount: | $2,715,000
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| Maturity: | June 9, 2022
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par plus 13.5% per year if each index closes at or above its initial level on June 10, 2021
|
| Payout at maturity: | Par plus twice any gain of least performing index; par if any index remains flat or falls by up to 30% of its initial level; otherwise, full exposure to decline of lesser performing index
|
| Initial levels: | 3,112.35 for S&P, 1,452.063 for Russell
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| Downside thresholds: | 2,178.645 for S&P, 1,016.444 for Russell; 70% of initial levels
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| Pricing date: | June 4
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| Settlement date: | June 9
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
|
| Cusip: | 61771BHN7
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