Published on 4/23/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.68 million autocallable jump securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 23 – Morgan Stanley Finance LLC priced $3.68 million of 0% jump securities with autocallable feature due April 8, 2025 linked to the worst performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 12% if each index closes at or above its initial level on any annual review date.
The payout at maturity will be par plus 72% if each index finishes at or above its initial level. If the worst performing index declines 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.
Morgan Stanley & Co. LLC is the underwriter.
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 indexes: | S&P 500 index, Russell 2000 index and Dow Jones industrial average
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Amount: | $3,682,000
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Maturity: | April 8, 2025
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Coupon: | 0%
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Price: | Par
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Call: | At par plus 12% a year if each index closes above initial level on any annual review date
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Payout at maturity: | If each index finishes at or above initial level, par plus 72%; if worst performing index falls by up to30%, par; otherwise, full exposure to loss of worst performing index
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Initial levels: | 2,905.03 for S&P, 26,559.54 for Dow, 1,565.748 for Russell
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Downside thresholds: | 2,033.521 for S&P, 18,591.678 for Dow, 1,096.024 for Russell; 70% of initial levels
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Pricing date: | April 18
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Settlement date: | April 26
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0%
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Cusip: | 61768D5Y7
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