Published on 10/17/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.08 million callable contingent income notes linked to three indexes
Kiku Steinfeld
Chicago, Oct. 17 – Morgan Stanley Finance LLC priced $1.08 million of callable contingent income securities Oct. 3, 2024 linked to the Nasdaq-100 index, 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.
Each month, the notes will pay a contingent coupon at the rate of 8% per year if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation day for that month.
The notes will be callable at par plus any coupon due on any quarterly redemption date after one year.
The payout at maturity will be par plus any coupon due unless the least-performing index finishes below its downside threshold level, 60% of its initial level, in which case 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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying indexes: | Nasdaq-100, Russell 2000 and Dow Jones industrial average
|
| Amount: | $1,084,000
|
| Maturity: | Oct. 3, 2024
|
| Coupon: | 8% per year, payable monthly if each index closes at or above coupon barrier level on observation day for that month
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above downside threshold level, par plus any coupon due; if any index finishes below downside threshold level, 1% loss for every 1% that least-performing index declines from initial level
|
| Call option: | Callable at par plus any coupon due on any quarterly redemption date after one year
|
| Initial levels: | 7,749.449 for Nasdaq-100, 1,523.373 for Russell 2000 and 26,916.83 for Dow
|
| Coupon barriers: | 5,424.614 for Nasdaq-100, 1,066.361 for Russell 2000 and 18,841.781 for Dow, or 70% of initial levels
|
| Downside thresholds: | 4,649.669 for Nasdaq-100, 914.024 for Russell 2000 and 16,150.098 for Dow, or 60% of initial levels
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.125%
|
| Cusip: | 61769HSP1
|
|
|
© 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.
