Published on 1/31/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.53 million trigger participation notes linked to Russell, S&P
By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – Morgan Stanley Finance LLC priced $1.53 million of 0% trigger participation securities due Aug. 2, 2021 linked to the lesser performing of 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.
The payout at maturity will be par plus any gain of the lesser performing index.
If the lesser performing index falls by up to 40%, the payout will be par.
Otherwise, investors will be fully exposed to losses if the lesser performing index finishes below the 60% trigger level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger participation securities
|
| Underlying indexes: | Russell 2000, S&P 500
|
| Amount: | $1,531,000
|
| Maturity: | Aug. 2, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If lesser performing index return is positive, par plus lesser performing index return; par if lesser performing index falls by up to 10%; full exposure to losses if lesser performing index finishes below 60% trigger level
|
| Initial levels: | 2,643.85 for S&P, 1,473.536 for Russell
|
| Trigger levels: | 1,586.31 for S&P, 884.122 for Russell; 60% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61768DVZ5
|
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