Published on 8/22/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.88 million step down trigger autocalls tied to Russell, the Dow
By Wendy Van Sickle
Columbus, Ohio, Aug. 22 – Morgan Stanley Finance LLC priced $3.88 million of 0% step down trigger autocallable notes due Aug. 22, 2022 linked to the lesser performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par of $10 plus 10.15% per year if each asset closes at or above its initial level on any annual observation date or at or above its 75% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return of worse performing index with full exposure to any losses.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Step down trigger autocallable notes
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| Underlying assets: | Russell 2000 index, Dow Jones industrial average
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| Amount: | $3,881,250
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| Maturity: | Aug. 22, 2022
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus return of worse performing index with full exposure to any losses
|
| Call: | At par plus 10.15% per year if each asset closes at or above its initial level on any annual observation date or at or above its 75% downside threshold on the final valuation date
|
| Initial levels: | 1,692.947 for Russell, 25,669.32 for Dow
|
| Downside thresholds: | 1,269.71 for Russell, 19,251.99 for Dow; 75% of initial levels
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| Pricing date: | Aug. 17
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| Settlement date: | Aug. 22
|
| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
|
| Fees: | 0%
|
| Cusip: | 61768R682
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