Published on 3/18/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $285,000 jump autocallables linked to S&P 500
By Marisa Wong
Morgantown, W.Va., March 18 – Morgan Stanley Finance LLC priced $285,000 of 0% jump securities with autocallable feature due March 3, 2022 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be automatically called at par plus 8% per year if the index closes at or above the call threshold level, 95% of the initial level, on any of the first two annual determination dates.
If the notes are not called and the final index level is greater than or equal to the call threshold level, the payout at maturity will be par plus 24%. If the final index level is less than the call threshold level but greater than or equal to the 70% downside threshold level, the payout will be par. Otherwise, investors will be fully exposed to the index decline.
Morgan Stanley & Co. LLC is the agent.
| 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 index: | S&P 500
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| Amount: | $285,000
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| Maturity: | March 3, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final index level is greater than or equal to call threshold, par plus 24%; if final index level is less than call threshold but greater than or equal to downside threshold, par; otherwise, full exposure to losses
|
| Call: | Automatically at par plus 8% per year if index closes at or above call threshold on any of first two annual determination dates
|
| Initial level: | 2,784.49
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| Call threshold: | 2,645.266, 95% of initial level
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| Downside threshold: | 1,949.143, 70% of initial level
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| Pricing date: | Feb. 28
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| Settlement date: | March 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
|
| Cusip: | 61768DN43
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