Published on 10/30/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $3.54 million contingent income autocalls on indexes
By Wendy Van Sickle
Columbus, Ohio, Oct. 30 – Morgan Stanley Finance LLC priced $3.54 million of contingent income autocallable securities due Feb. 3, 2020 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 16.45% if each index closes at or above its coupon threshold, 90% of its initial level, on the observation date for that month.
The notes will be called at par if each index closes at or above its initial level on any review date after six months.
The payout at maturity will be par unless any underlying index finishes below its initial level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Russell 2000 index, Nasdaq-100 index and S&P 500 index
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| Amount: | $3,535,000
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| Maturity: | Feb. 3, 2020
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| Coupon: | 16.45%, payable quarterly if each index closes at or above coupon threshold on review date for that quarter
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above initial level, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par if each index closes at or above its initial level on any monthly call date after six months
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| Initial levels: | 1,468.698 for Russell, 6,789.154 for Nasdaq, 2,656.1 for S&P
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| Coupon thresholds: | 1,321.828 for Russell, 6,110.239 for Nasdaq, 2,390.49 for S&P, 90% of initial levels
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| Pricing date: | Oct. 24
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| Settlement date: | Oct. 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61768DJM8
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