Published on 3/9/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1 million autocallable jump securities on three indexes
By Sarah Lizee
Olympia, Wash., March 9 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due March 5, 2025 tied to the worst performing of the S&P 500 index, Dow Jones industrial average 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 14% if each index closes at or above the its call level on any quarterly review date after one year. The call level for each index will be 100% of the initial level.
The payout at maturity will be par plus 70% if each index finishes at or above its call level.
If either index falls by up to 30%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing index.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
|
| Amount: | $1 million
|
| Maturity: | March 5, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus an annual premium of 14% if each index closes at or above the its call level on any quarterly review date after one year; call level for each index will be 100% of initial level
|
| Payout at maturity: | Par plus 70% if each index finishes at or above its call level; if either index falls by up to downside threshold, par; otherwise, investors will be fully exposed to the decline of the least performing index
|
| Initial levels: | 2,954.22 for S&P, 25,409.36 for Dow, 1,476.431 for Russell
|
| Downside thresholds: | 2,067.954 for S&P, 17,786.552 for Dow, 1,033.502 for Russell; 70% of initial levels
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 4
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.5%
|
| Cusip: | 61770FKW5
|
|
|
© 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.
