Published on 4/24/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.29 million autocallable jump securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 24 – Morgan Stanley Finance LLC priced $1.29 million of 0% jump securities with autocallable feature due May 15, 2024 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the 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 7.75% 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 38.75% if each index finishes at or above 92% of its initial level. If the worst performing index declines by more than 8% but not by 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
|
| Amount: | $1,286,000
|
| Maturity: | May 15, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 7.75% 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 92% of initial level, par plus 38.75%; if worst performing index finishes below 92% of its initial level but at or above 70% of initial level, par; otherwise, full exposure to loss of worst performing index
|
| Initial levels: | 2,905.03 for S&P, 26,559.54 for Dow, 1,565.748 for Russell
|
| Downside thresholds: | 2,033.521 for S&P, 18,591.678 for Dow, 1,096.024 for Russell; 70% of initial levels
|
| Pricing date: | April 18
|
| Settlement date: | April 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2%
|
| Cusip: | 61768D4F9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
