Published on 10/31/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $4.9 million autocallable jump securities S&P, Russell
Chicago, Oct. 31 – Morgan Stanley Finance LLC priced $4.9 million of 0% jump securities with autocallable feature due Oct. 25, 2023 linked to the worst performing of the S&P 500 index 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 8.5% per year if each index closes at or above its initial level on any annual determination date.
The payout at maturity will be par plus 34% if each index finishes at or above its initial level.
If the worst performing index declines by no more than 30%, the payout will be $1,100 per $1,000 principal amount of notes.
If the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index and Russell 2000 index
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| Amount: | $4,902,000
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| Maturity: | Oct. 25, 2023
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| Coupon: | 0%
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| Price: | Par
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| Call: | Automatically at par plus 8.5% per year if each index closes at or above initial level on any annual determination date.
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| Payout at maturity: | Par plus 34% if each index finishes at or above its initial level; if the worst performing index declines by no more than 30%, $1,100 per $1,000 principal amount of notes; if the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that index
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| Initial levels: | 1,535.482 for Russell, 2,986.20 for S&P
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| Downside thresholds: | 1,074.837 for Russell, 2,090.34 for S&P; 70% of initial levels
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| Pricing date: | Oct. 18
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| Settlement date: | Oct.25
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61769HWQ4
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