Published on 4/5/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.03 million autocallable jump securities on three indexes
By Sarah Lizee
Olympia, Wash., April 5 – Morgan Stanley Finance LLC priced $1.03 million of 0% jump securities with autocallable feature due April 10, 2025 linked to the worst performing of the S&P 500 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 10.55% if each index closes at or above 92% of its initial level on any annual review date.
The payout at maturity will be par plus 63.3% if each index finishes at or above its initial level. If the worst performing index declines by no more than 25%, the payout will be par. If the worst performing index finishes below its 75% downside threshold level, investors will be fully exposed to the decline.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones Industrial Average
|
| Amount: | $1,033,000
|
| Maturity: | April 10, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 10.55% a year if each index closes above 92% of initial level on any annual review date
|
| Payout at maturity: | If each index finishes at or above 98% of initial level, par plus 63.3%; if worst performing index falls by up to 25%, par; otherwise, full exposure to loss of worst performing index
|
| Initial levels: | 2,873.40 for S&P, 26,218.13 for Dow, 1,560.910 for Russell
|
| Downside thresholds: | 2,155.05 for S&P, 19,663.598 for Dow, 1,170.683 for Russell; 75% of initial levels
|
| Pricing date: | April 3
|
| Settlement date: | April 10
|
| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
|
| Cusip: | 61768D5F8
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