Published on 8/22/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $8.93 million 5.33% trigger callable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 22 – Morgan Stanley Finance LLC priced $8.93 million of 5.33% trigger callable yield notes due Aug. 20, 2021 linked to the least performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable quarterly.
The notes are callable at par on any quarterly call date after six months.
The payout at maturity will be par of $10 unless any index finishes below its downside threshold level, 55% of its initial level, in which case investors will be fully exposed to the decline of the worst-performing index.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger callable yield notes
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| Underlying indexes: | Euro Stoxx 50, Russell 2000 and S&P 500
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| Amount: | $8,925,500
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| Maturity: | Aug. 20, 2021
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| Coupon: | 5.33%, payable quarterly
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, full exposure to decline of worst-performing index
|
| Call option: | At par on any quarterly call date after six months
|
| Initial index levels: | 1,692.947 for Russell 2000, 2,850.13 for S&P 500 and 3,372.94 for Euro Stoxx 50
|
| Downside thresholds: | 931.121 for Russell 2000, 1,567.57 for S&P 500 and 1,855.12 for Euro Stoxx 50; 55% 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: | 1.5%
|
| Cusip: | 61768R674
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