Published on 9/25/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.4 million trigger autocallable contingent notes on Russell, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Sept. 25 – Morgan Stanley Finance LLC priced $1.4 million of trigger autocallable contingent yield notes due Sept. 24, 2027 linked to 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 9% if each index closes at or above its coupon barrier level, 67.6% 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 Sept. 21, 2018.
The payout at maturity will be par plus the final coupon unless either index finishes below the downside threshold, 67.6% 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
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $1,395,000
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| Maturity: | Sept. 24, 2027
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| Coupon: | 9%, payable quarterly if each index closes at or above coupon barrier level on observation date
|
| Price: | Par of $10
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| Call: | Beginning Sept. 21, 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 either index finishes below downside threshold, in which case 1% loss for each 1% decline of the worst performing index from initial level
|
| Initial levels: | 1,444.184 for Russell, 3,539.59 for Stoxx
|
| Coupon barriers: | 976.268 for Russell, 2,392.76 for Stoxx, 67.6% of initial levels
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| Downside thresholds: | 976.268 for Russell, 2,392.76 for Stoxx, 67.6% of initial levels
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61768J326
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