Published on 8/20/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.18 million jump autocalls tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 20 – Morgan Stanley Finance LLC priced $3.18 million of 0% jump securities with autocallable feature due Aug. 15, 2023 linked to the least performing of 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 will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annualized call premium of 10.6% if each index closes at or above its initial level on any quarterly determination date after one year.
If each index finishes at or above its 75% downside threshold, the payout will be $15.30 per $10 of notes.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $3,182,000
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| Maturity: | Aug. 15, 2023
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If each index finishes at or above downside threshold, par plus 53%; otherwise, 1% loss per 1% decline of worst performing index
|
| Call: | At par plus 10.6% annualized if each index closes at or above initial level on any quarterly determination date after one year
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| Initial levels: | 2,833.28 for S&P, 1,686.804 for Russell and 3,426.28 for Stoxx
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| Trigger levels: | 2,124.96 for S&P, 1,265.103 for Russell and 2,569.71 for Stoxx, 75% of initial levels
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 15
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61768R575
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