Published on 1/31/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $550,000 contingent income securities on Dow, Russell
By Sarah Lizee
Olympia, Wash., Jan. 31 – Morgan Stanley Finance LLC priced $550,000 of contingent income securities due Jan. 31, 2025 linked to the worst performing of 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.
The notes will pay a contingent semiannual coupon at an annual rate of 5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that period.
The payout at maturity will be par plus any final coupon unless either index finishes below its 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from its initial level.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Contingent income securities
|
Underlying indexes: | Russell 2000 and Dow Jones industrial average
|
Amount: | $550,000
|
Maturity: | Jan. 31, 2025
|
Coupon: | 5% per year for each six months that both indexes close at or above coupon barrier level on the observation date for that period
|
Price: | Par
|
Payout at maturity: | Par plus any coupon unless either index finishes below its downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index from initial level
|
Initial levels: | 1,662.232 for Russell, 28,989.73 for Dow
|
Coupon barrier levels: | 1,163.562 for Russell, 20,292.811 for Dow; 70% of initial levels
|
Downside thresholds: | 1,163.562 for Russell, 20,292.811 for Dow; 70% of initial levels
|
Pricing date: | Jan. 24
|
Settlement date: | Jan. 31
|
Agent: | Morgan Stanley & Co. LLC
|
Fees: | 3%
|
Cusip: | 61770FBM7
|
|
© 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.