Published on 8/22/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $7.07 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 22 – Morgan Stanley Finance LLC priced $7.07 million of trigger autocallable contingent yield notes due Aug. 23, 2027 linked to the S&P 500 index, 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 pay a contingent quarterly coupon at an annual rate of 8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any quarterly observation date beginning Aug. 20, 2018.
The payout at maturity will be par plus the final coupon unless any index finishes below the downside threshold, 50% of the initial level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $7,065,000
|
| Maturity: | Aug. 23, 2027
|
| Coupon: | 8%, payable quarterly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
|
| Call: | Beginning Aug. 20, 2018, at par plus contingent coupon if each index closes at or above initial level on any quarterly observation date
|
| Payout at maturity: | Par plus final coupon unless any index finishes below downside threshold, in which case 1% loss for each 1% decline of the worst performing index from initial level
|
| Initial levels: | 1,357.792 for Russell, 3,446.03 for Stoxx, 2,425.55 for S&P
|
| Coupon barriers: | 950.454 for Russell, 2,412.22 for Stoxx, 1,697.89 for S&P, 70% of initial levels
|
| Downside thresholds: | 678.896 for Russell, 1,723.02 for Stoxx, 1,212.78 for S&P, 50% of initial levels
|
| Pricing date: | Aug. 18
|
| Settlement date: | Aug. 23
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61766X681
|
|
|
|
|
© 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.
