Published on 4/9/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 autocallable jump securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 9 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due April 1, 2022 linked to the worst performing of the S&P 500 index, Russell 2000 index and Euro Stoxx 50 index, 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 10.25% if each index closes at or above 90% of its initial level on any annual review date.
The payout at maturity will be par plus 30.75% if each index finishes at or above 90% of its initial level. If the worst performing index declines by no more than 30%, the payout will be par. If the worst performing index finishes below its 70% 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: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $250,000
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| Maturity: | April 1, 2022
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 10.25% a year if each index closes above 90% of initial level on any annual review date
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| Payout at maturity: | If each index finishes at or above 90% of initial level, par plus 30.75%; if worst performing index falls by up to 25%, par; otherwise, full exposure to loss of worst performing index
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| Initial levels: | 2,834.4 for S&P, 3,351.71 for Stoxx, 1,539.739 for Russell
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| Downside thresholds: | 1,984.08 for S&P, 2,346.197 for Stoxx, 1,077.817 for Russell; 70% of initial levels
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| Pricing date: | March 29
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| Settlement date: | April 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
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| Cusip: | 61768DX42
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