Published on 6/29/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.97 million autocallable jump securities on Russell, S&P
By Sarah Lizee
Olympia, Wash., June 29 – Morgan Stanley Finance LLC priced $1.97 million of 0% jump securities with autocallable feature due June 26, 2024 linked to the worst performing of the Russell 2000 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 any annual call date.
If each index finished at or above its initial level, the payout will be par plus 54%. If any 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 2000 index and S&P 500 index
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| Amount: | $1,967,000
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| Maturity: | June 26, 2024
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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 any annual call date
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| Payout at maturity: | If each index finished at or above its initial level, par plus 54%; if any falls by up to 30% of its initial level, par; otherwise, investors will be fully exposed to the decline of the lesser performing index
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| Initial levels: | 3,097.74 for S&P, 1,418.634 for Russell
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| Downside thresholds: | 2,168.418 for S&P, 993.044 for Russell; 70% of initial levels
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| Pricing date: | June 19
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| Settlement date: | June 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61771BLW2
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