Published on 12/12/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1 million autocallable jump securities on three indexes
By Sarah Lizee
Olympia, Wash., Dec. 12 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due Dec. 1, 2022 linked to the worst performing of the Nasdaq-100 index, Dow Jones industrial average and 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 called at par plus an annual premium of 11.25% if each index closes at or above 97.5% of its initial level on any semiannual review date.
The payout at maturity will be par plus 33.75% if each index finishes at or above 97.5% of its initial level. If the worst performing index declines but by no more than 30%, the payout will be par. 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
|
Guarantor: | Morgan Stanley
|
Issue: | Jump securities with autocallable feature
|
Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
|
Amount: | $1 million
|
Maturity: | Dec. 1, 2022
|
Coupon: | 0%
|
Price: | Par
|
Call: | At par plus an annual premium of 11.25% if each index closes at or above 97.5% of its initial level on any semiannual review date
|
Payout at maturity: | Par plus 33.75% if each index finishes at or above 97.5% of initial level; if the worst performing index declines by up to 30%, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index
|
Initial levels: | 8,176.101 for Nasdaq, 27,418.638 for Dow, 1,583.625 for Russell
|
Downside thresholds: | 5,870.022 for Nasdaq, 19,685.176 for Dow, 1,136.962 for Russell; 70% of initial levels
|
Pricing date: | Nov. 26
|
Settlement date: | Dec. 2
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 0.85%
|
Cusip: | 61769HT54
|
|
© 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.