Published on 5/21/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.69 million contingent income autocallables linked to Russell, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., May 21 – Morgan Stanley Finance LLC priced $1.69 million of contingent income buffered autocallable securities due Nov. 20, 2026 linked to the lesser performing of 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.
Each month, the notes will pay a contingent coupon at the rate of 6.5% per year if each index closes at or above its buffer level, 80% of its initial level, on the determination date for that month.
Beginning May 18, 2020, the notes will be automatically called at par if each index closes at or above its initial level on any monthly determination date.
The payout at maturity will be par unless either index finishes below its buffer level, in which case investors will lose 1% for every 1% that the lesser-performing index declines beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income buffered autocallable securities
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $1,685,000
|
| Maturity: | Nov. 20, 2026
|
| Coupon: | 6.5% per year, payable monthly if each index closes at or above buffer level on determination date for that month.
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below buffer level, in which case 1% loss for every 1% that lesser-performing index declines beyond 20%
|
| Call: | Beginning May 18, 2020, automatically at par if each index closes at or above initial level on any monthly determination date
|
| Initial index levels: | 3,425.64 for Euro Stoxx 50 and 1,535.763 for Russell 2000
|
| Buffer levels: | 2,740.512 for Euro Stoxx 50 and 1,228.610 for Russell 2000, or 80% of initial levels
|
| Pricing date: | May 17
|
| Settlement date: | May 22
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4.25%
|
| Cusip: | 61769HBW4
|
© 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.
