Published on 10/31/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 autocallable jump securities tied to Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 31 – Morgan Stanley Finance LLC priced $500,000 of 0% jump securities with autocallable feature due Oct. 31, 2022 linked to the worst performing of the Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 10% if each index closes at or above its initial level on any annual review date.
The payout at maturity will be par plus 50% if each index finishes at or above its initial level. If the worst performing index declines by no more than 35%, the payout will be par. If the worst performing index finishes below its 65% downside threshold level, investors will be fully exposed to the decline.
Morgan Stanley & Co. LLC is the underwriter with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Chase Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $500,000
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| Maturity: | Oct. 31, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 10% a year if each index closes above initial level on any annual review
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| Payout at maturity: | If each index finishes at or above downside threshold, par plus 50%; if worst performing index falls by up to 35%, par; otherwise, full exposure to loss of worst performing index
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| Initial index levels: | 1,497.46 for Russell 2000 and 3,637.20 for Euro Stoxx 50
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| Downside thresholds: | 973.348 for Russell 2000 and 2,364.18 for Euro Stoxx 50; 65% of initial levels
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| Pricing date: | Oct. 26
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| Settlement date: | Oct. 31
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 4%
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| Cusip: | 61768CRW9
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