Published on 5/15/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $500,000 contingent income securities on S&P, Russell
By Sarah Lizee
Olympia, Wash., May 15 – Morgan Stanley Finance LLC priced $500,000 of contingent income securities due Feb. 19, 2020 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent monthly coupon at an annual rate of 5.15% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that month.
The payout at maturity will be par plus any final coupon unless either index finishes below its 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income securities
|
| Underlying indexes: | Russell 2000 and S&P 500
|
| Amount: | $500,000
|
| Maturity: | Feb. 19, 2020
|
| Coupon: | 5.15% per year for each month that both indexes close at or above coupon barrier level on the observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus any coupon unless either index finishes below its downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from initial level
|
| Initial levels: | 2,811.87 for S&P and 1,523.001 for Russell
|
| Coupon barrier levels: | 1,968.309 for S&P and 1,066.101 for Russell; 70% of initial levels
|
| Downside thresholds: | 1,968.309 for S&P and 1,066.101 for Russell; 70% of initial levels
|
| Pricing date: | May 13
|
| Settlement date: | May 16
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.25%
|
| Cusip: | 61769HBT1
|
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