Published on 3/29/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $4.72 million autocallable jump securities tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, March 29 – Morgan Stanley Finance LLC priced $4.72 million of 0% jump securities with autocallable feature due March 29, 2022 linked to the worst performing of the S&P 500 index, Russell 2000 index and the Dow Jones Industrial Average, 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 12.05% if each index closes at or above its initial level on any annual review date.
The payout at maturity will be par plus 48.2% if each index finishes at or above its initial level. If the worst performing index declines by no more than 30%, the payout will be par plus 10%. If the worst performing index finishes below its 70% 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: | S&P 500 index, Russell 2000 index and Dow Jones Industrial Average
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| Amount: | $4,717,000
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| Maturity: | March 29, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 12.05% a year if each index closes above initial level on any annual review date
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| Payout at maturity: | If each index finishes at or above initial level, par plus 48.2%; if worst performing index falls by up to 30%, par plas 10%; otherwise, full exposure to loss of worst performing index
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| Initial levels: | 1,574.982 for Russell, 2,823.81 for S&P and 16,473.24 for Dow
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| Downside thresholds: | 1,057.058 for Russell, 1,811.782 for S&P and 16,473.24 for Dow; 70% of initial levels
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| Pricing date: | March 23
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| Settlement date: | March 29
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 0%
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| Cusip: | 61768CF85
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