Published on 3/14/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $277,000 autocallable jump notes on Russell, Dow
By Marisa Wong
Morgantown, W.Va., March 14 – Morgan Stanley Finance LLC priced $277,000 of 0% jump securities with autocallable feature due March 3, 2022 linked to the worse performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Starting after one year, the notes will be automatically called at par plus an annual premium of 10% if each index closes at or above 93% of its initial level on any annual review date.
The payout at maturity will be par plus 30% if each index finishes at or above the 93% call threshold level.
If the worse performing index declines but by no more than 30%, the payout will be par.
If the worse performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC.
| 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: | Russell 2000 index, Dow Jones industrial average
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| Amount: | $277,000
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| Maturity: | March 3, 2022
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| Coupon: | 0%
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| Price: | Par
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| Call: | Starting on March 3, 2020, automatically at par plus 10% a year if each index closes at or above call threshold on any annual review date
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| Payout at maturity: | If both indexes finish at or above call threshold, par plus 30%; if worse performing index falls by up to 30%, par; otherwise, full exposure to loss of worse performing index
|
| Initial levels: | 1,575.549 for Russell, 25,916.00 for Dow
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| Call thresholds: | 1,465.261 for Russell, 24,101.88 for Dow, 93% of initial levels
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| Downside thresholds: | 1,102.884 for Russell, 18,141.20 for Dow, 70% of initial levels
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| Pricing date: | Feb. 28
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| Settlement date: | March 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61768DK61
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