Published on 12/24/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.05 million enhanced trigger jump notes on basket of indexes, ETF
By Sarah Lizee
Olympia, Wash., Dec. 24 – Morgan Stanley Finance LLC priced $1.05 million of 0% enhanced trigger jump securities due Dec. 12, 2024 linked to a basket of indexes and an ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket consists of the S&P 500 index with a 40% weight, the MSCI EAFE index with a 20% weight, the Russell 2000 index with a 20% weight and the iShares MSCI Emerging Markets ETF with a 20% weight.
If the final basket level is greater than or equal to the downside threshold level, 80% of the initial level, the payout at maturity will be par plus the greater of the basket return and 12.5%.
If the basket declines by more than 20% but not by more than 40%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the basket declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Enhanced trigger jump securities
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| Basket components: | S&P 500 index with a 40% weight and MSCI EAFE, Russell 2000 and iShares MSCI Emerging Markets ETF with a 20% weight each
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| Amount: | $1,046,000
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| Maturity: | Dec. 12, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If the final basket level is greater than or equal to the downside threshold level, 80% of the initial level, par plus the greater of the basket return and 12.5%; if the basket declines by more than 20% but not by more than 40%, the payout will be par; otherwise, investors will lose 1% for every 1% that the basket declines from its initial level
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| Initial levels: | 3,135.96 for S&P, 1,983.94 for EAFE, 1,629.619 for Russell, $42.90 for ETF
|
| Pricing date: | Dec. 9
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| Settlement date: | Dec. 13
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.125%
|
| Cusip: | 61769H4L6
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