Published on 2/7/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 dual directional trigger jump notes on indexes
By Tali Rackner
Minneapolis, Feb. 7 – Morgan Stanley Finance LLC priced $500,000 of 0% dual directional trigger jump securities due Jan. 31, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index finishes at or above its initial level, the payout at maturity will be par of $1,000 plus the greater of the lesser-performing index’s return and 40%.
If either index falls but finishes at or above the trigger level, 70% of the initial index level, the payout will be par plus the absolute value of the lesser-performing index return.
If any index finishes below the trigger level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional trigger jump securities
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $500,000
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| Maturity: | Jan. 31, 2023
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If each index finishes at or above initial level, par plus greater of lesser-performing index’s return and 40%; if either index falls but finishes at or above trigger level, par plus absolute value of lesser-performing index return; if either index finishes below trigger level, 1% loss for every 1% that lesser-performing index declines from initial level
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| Initial index levels: | 2,872.87 for S&P, 1,608.058 for Russell
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| Trigger levels: | 2,011.009 for S&P, 1,125.641 for Russell, 70% of initial levels
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| Pricing date: | Jan. 26
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61768CXV4
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