By Wendy Van Sickle
Columbus, Ohio, Sept. 28 – Morgan Stanley Finance LLC priced $2.5 million of 0% jump securities with autocallable feature due Sept. 26, 2024 linked to the least 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 will be automatically called at par plus 10% a year if each index closes at or above its initial level on any annual observation date
If the final level of each index is greater than or equal to its initial level, the payout at maturity will be par plus 30%.
If the final level of any index is less than its call level but the final level of each index is greater than or equal to its 75% barrier level, the payout will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
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, S&P 500
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Amount: | $2.5 million
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Maturity: | Sept. 26, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final level of each index is greater than or equal to initial level, par plus 30%; if final level of any index is less than call level but final level of each index is greater than or equal to barrier level, par; otherwise, 1% loss for every 1% that least-performing index declines
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Call: | Automatically at par plus 10% a year if each index closes at or above initial level on any annual observation date
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Initial levels: | 4,354.19 for S&P, 2,186.183 for Russell
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Barrier levels: | 3,265.643 for S&P, 1,639.637 for Russell; 75% of initial levels
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Pricing date: | Sept. 22
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Settlement date: | Sept. 27
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.1%
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Cusip: | 61773FM34
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