Published on 10/2/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $557,000 autocallable jump notes on Russell, Dow
By Sarah Lizee
Olympia, Wash., Oct. 2 – Morgan Stanley Finance LLC priced $557,000 of 0% jump securities with autocallable feature due Oct. 1, 2021 linked to the worst 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 will be guaranteed by Morgan Stanley.
The notes will be automatically called at par plus an annual premium of 9% if each index closes at or above its initial level on any annual review date.
The payout at maturity will be par plus 27% if each index finishes at or above its initial level. If the worst performing index declines by no more than 40%, the payout will be par. If the worst performing index finishes below its 60% downside threshold level, investors will be fully exposed to the decline.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | Russell 2000 index and Dow Jones Industrial Average
|
| Amount: | $557,000
|
| Maturity: | Oct. 1, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically at par plus an annual premium of 9% if each index closes at or above its initial level on any annual review date
|
| Payout at maturity: | Par plus 27% if each index finishes at or above its initial level; if the worst performing index declines by no more than 40%, par; if the worst performing index finishes below its 60% downside threshold level, fully exposure to the decline
|
| Initial levels: | 26,458.31 for Dow, 1,696.571 for Russell
|
| Downside thresholds: | 15,874.986 for Dow, 1,017.943 for Russell, 60% of initial levels
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1%
|
| Cusip: | 61768DDY8
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