Published on 2/4/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million autocallable jump securities tied to three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 4 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due Feb. 2, 2024 linked to the worst performing of the Nasdaq-100 index, Russell 2000 index and 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 called at par plus an annual premium of 10% if each index closes at or above 90% of its initial level on any quarterly review date after one year.
The payout at maturity will be par plus 50% 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 underwriter.
| 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: | Nasdaq-100 index, Russell 2000 index and Dow Jones Industrial Average
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| Amount: | $1 million
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| Maturity: | Feb. 2, 2024
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 10% a year if each index closes above 90% of initial level on any quarterly review date after one year
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| Payout at maturity: | If each index finishes at or 90% of above initial level, par plus 50%; if worst performing index falls by up to 40%, par; otherwise, full exposure to loss of worst performing index
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| Initial levels: | 1,486.942 for Russell, 6,807.909 for Nasdaq and 25,014.86 for Dow
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| Downside thresholds: | 892.165 for Russell, 4,084.745 for Nasdaq and 15,008.916 for Dow; 60% of initial levels
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| Pricing date: | Jan. 30
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| Settlement date: | Feb. 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.125%
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| Cusip: | 61768DZG3
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