Published on 11/14/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.58 million jump autocalls tied to three indexes
By Susanna Moon
Chicago, Nov. 14 – Morgan Stanley Finance LLC priced $1.58 million of 0% jump securities with autocallable feature due Nov. 3, 2021 linked to the lesser performing of the S&P 500 index, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 11.15% if each index closes at or above its initial level on any annual determination date after six months.
If each index closes at or above its initial level, the payout at maturity will be $1,334.50 per $1,000 principal amount.
If any index falls by up to its 70% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Morgan Stanley.
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, Nasdaq-100
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| Amount: | $1,575,000
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| Maturity: | Nov. 3, 2021
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If each index gains, par plus 33.45%; if any index falls by up to 30%, par; otherwise, 1% loss per 1% decline of worst performing index
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| Call: | At par plus 11.15% annualized if each index closes at or above initial level on any semiannual determination date beginning April 30, 2019
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| Initial levels: | 2,682.63 for S&P, 6,810.121 for Nasdaq, 1,506.637 for Russell
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| Trigger levels: | 1,877.841 for S&P, 4,767.085 for Nasdaq, 1,054.646 for Russell, 70% of initial levels
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 2
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.125%
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| Cusip: | 61768DJZ9
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