Published on 8/1/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.57 million trigger autocallable contingent yield notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – Morgan Stanley Finance LLC priced $5.57 million of trigger autocallable contingent yield notes due Aug. 3, 2022 linked to the Russell 2000 index and the Dow Jones industrial average, 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 7.72% 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 six months.
The payout at maturity will be par plus the final coupon unless either index finishes below the 70% 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
|
Guarantor: | Morgan Stanley
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying indexes: | Russell 2000 and Dow Jones industrial average
|
Amount: | $5,573,500
|
Maturity: | Aug. 3, 2022
|
Coupon: | 7.72%, payable quarterly if each index closes at or above coupon barrier level on observation date
|
Price: | Par of $10
|
Call: | At par plus contingent coupon if each index closes at or above initial level on any observation date after six months
|
Payout at maturity: | Par plus final coupon unless either index closes below downside threshold level, in which case 1% loss for each 1% decline of worse performing index from initial level
|
Initial levels: | 27,221.35 for Dow, 1,569.025 for Russell
|
Coupon barriers: | 19,054.95 for Dow, 1,098.318 for Russell, 70% of initial levels
|
Downside thresholds: | 19,054.95 for Dow, 1,098.318 for Russell, 70% of initial levels
|
Pricing date: | July 29
|
Settlement date: | July 31
|
Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
|
Fees: | 0%
|
Cusip: | 61769Q386
|
|
© 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.