Published on 1/31/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $500,000 jump autocalls on Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, Jan. 31 – Morgan Stanley Finance LLC priced $500,000 of 0% jump securities with autocallable feature due Feb. 2, 2022 linked to the lesser performing of the Dow Jones industrial average 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 9% if each index closes at or above 95% of its initial level on any semiannual determination date.
If each index finishes at or above 95% of its initial level, the payout at maturity will be $1,270 per $1,000 principal amount.
If either index finishes below 95% of its initial level but neither falls by more than 35%, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Morgan Stanley.
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, Dow Jones industrial average
|
| Amount: | $500,000
|
| Maturity: | Feb. 2, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 95% of its initial level, par plus 27%; if either index finishes below 95% of initial level but neither falls by more than 35%, par; otherwise, 1% loss per 1% decline of worse performing index
|
| Call: | At par plus 9% annualized if each index closes at or above 95% of initial level on any semiannual determination date
|
| Initial levels: | 24,528.22 for Dow, 1,473.536 for Russell
|
| Call thresholds: | 23,301.809 for Dow, 1,399.859 for Russell, 95% of initial levels
|
| Trigger levels: | 15,943.343 for Dow, 957.798 for Russell, 65% of initial levels
|
| Pricing date: | Jan. 28
|
| Settlement date: | Jan. 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.75%
|
| Cusip: | 61768DWY7
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
