Published on 6/27/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $478,000 dual directional trigger jump notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., June 27 – Morgan Stanley Finance LLC priced $478,000 of 0% dual directional trigger jump securities due June 28, 2024 linked to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the least performing index finishes at or above its initial index level, the payout at maturity will be par of $10 plus the greater of the least performing index return and 37%.
If the final index level is less than the initial index level but greater than or equal to the trigger level, 70% of the initial index level, the payout will be par plus the absolute value of the least performing index return.
If the least performing index finishes below the trigger level, investors will lose 1% for every 1% that the least performing index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Dual directional trigger jump securities
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Underlying indexes: | S&P 500 and Russell 2000
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Amount: | $478,000
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Maturity: | June 28, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If least performing index finishes at or above initial level, par plus greater of least performing index return and 37%; if least performing index falls but finishes at or above trigger level, par plus absolute value of its return; if least performing index finishes below trigger level, 1% loss for every 1% that least performing index declines from initial level
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Initial levels: | 2,917.38 for S&P, 1,521.035 for Russell
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Trigger levels: | 2,042.166 for S&P, 1,064.725 for Russell, 70% of initial levels
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Pricing date: | June 25
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Settlement date: | June 28
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 4.25%
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Cusip: | 61769HED3
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