Published on 10/8/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.73 million autocallable jump securities on three indexes
By Sarah Lizee
Olympia, Wash., Oct. 8 – Morgan Stanley Finance LLC priced $1.73 million of 0% jump securities with autocallable feature due Oct. 5, 2022 linked to the worst performing of the Nasdaq-100 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus 7.5% if each index closes at or above its initial level on any semiannual determination date.
If the index notes are not called and each index closes at or above its initial level, the payout at maturity will be par plus $1,450 per $1000 of notes.
If the final level of any index is less than its initial level but the final level of each index is greater than or equal to its downside threshold level, 70% of its initial level, the payout will be par.
If the final level of any index is less than its downside threshold, investors will lose 1% for every 1% that the least-performing index declines from its initial level.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
|
| Amount: | $1,728,000
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| Maturity: | Oct. 5, 2022
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| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically at par plus 7.5% a year if each index closes at or above initial level on any semiannual determination date
|
| Payout at maturity: | If notes are not called and each index closes at or above initial level, par plus $1,450 per $1,000 of notes; if final level of any index is less than initial level but final level of each index is greater than or equal to the downside threshold level, par; if any index closes below downside threshold level, 1% loss for every 1% that least-performing index declines from initial level
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| Initial levels: | 7,749.449 for Nasdaq, 26,916.83 for Dow, 1,523.373 for Russell
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| Downside thresholds: | 5,424.614 for Nasdaq, 18,841.781 for Dow, 1,066.361 for Russell; 70% of initial levels
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| Pricing date: | Sept. 30
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| Settlement date: | Oct. 1
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.125%
|
| Cusip: | 61769HTQ8
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