Published on 3/14/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 fixed-income autocalls on S&P, Russell
By Marisa Wong
Morgantown, W.Va., March 14 – Morgan Stanley Finance LLC priced $250,000 of 7.5% fixed-income autocallable securities due June 2, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable monthly.
The notes will be automatically called at par plus the coupon if each underlying index closes at or above its initial level on any quarterly determination date.
The payout at maturity will be par unless either index ever closes below its 70% downside threshold level during the life of the notes, in which case the payout will be par plus the return of the lesser performing index with full exposure to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Fixed-income autocallable securities
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| Underlying indexes: | S&P 500, Russell 2000
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| Amount: | $250,000
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| Maturity: | June 2, 2020
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| Coupon: | 7.5%, payable monthly
|
| Price: | Par
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| Payout at maturity: | Par unless either index ever closes below downside threshold during life of notes, in which case par plus return of lesser performing index with full exposure to losses
|
| Call: | Automatically at par plus coupon if each underlying closes at or above its initial level on any quarterly determination date
|
| Initial levels: | 1,575.549 for Russell, 2,784.49 for S&P
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| Downside thresholds: | 1,102.884 for Russell, 1,949.143 for S&P; 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 5
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.625%
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| Cusip: | 61768DK79
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