Published on 5/16/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.12 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, May 16 – Morgan Stanley Finance LLC priced $5.12 million of trigger autocallable contingent yield notes due May 17, 2029 linked to the Russell 2000 index and the Euro Stoxx 50 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 quarterly coupon at an annual rate of 8% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par if each index closes at or above its initial level on any observation date after one year.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below the 50% downside threshold level, in which case investors will lose 1% for each 1% decline of the worse performing index from its initial level.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 and Euro Stoxx 50
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| Amount: | $5.12 million
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| Maturity: | May 17, 2029
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| Coupon: | 8%, payable quarterly if each index closes at or above coupon barrier level on observation date
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| Price: | Par of $10
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| Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date after one year
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| Payout at maturity: | Par plus final coupon, if any, unless index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
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| Initial levels: | 3,361.05 for Stoxx, 1,572.993 for Russell
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| Coupon barriers: | 2,352.74 for Stoxx, 1,101.095 for Russell, 70% of initial levels
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| Downside thresholds: | 1,680.53 for Stoxx, 786.497 for Russell, 50% of initial levels
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| Pricing date: | May 10
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| Settlement date: | May 13
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| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | 1%
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| Cusip: | 61768Y497
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