Published on 11/7/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.57 million trigger jump notes on indexes
By Kiku Steinfeld
Chicago, Nov. 7 – Morgan Stanley Finance LLC priced $2.57 million of 0% trigger jump securities with daily trigger monitoring due Oct. 19, 2020 linked to the Dow Jones industrial average, the S&P 500 index and the Nasdaq-100 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
A trigger event occurs if any index closes below its 75% downside threshold value any day during the life of the notes.
If a trigger event does not occur and the worst performing index closes above its initial value, the payout will be par plus the greater of the index percent change of the worst performer and an 15.3% upside payment.
If the worst performer closes below its initial value and a trigger event has not occurred, the payout will be par.
If a trigger has occurred, investors will be exposed to any decline in the final value of the worst performing index, subject to a maximum payout of par.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger jump securities with daily trigger monitoring
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| Underlying indexes: | S&P 500, Nasdaq-100, Dow Jones industrial average
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| Amount: | $2,566,000
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| Maturity: | Oct. 19, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If no index closes below 75% of initial level any day during the life of the notes and the worst performer’s final value is above its initial level, the payout will be the greater of par plus the percentage increase in the worst performer and the 15.3% upside payment or if the worst performer finishes below its initial value, par; if any index closes below 75% of initial level any day during the life of the notes, investors participate in decline in final value of worst performing index with a maximum payout of par
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| Initial levels: | 26,816.59 for Dow, 7,843.875 for Nasdaq, 2,970.27 for S&P
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| Trigger levels: | 20,112.443 for Dow, 5,882.906 for Nasdaq, 2,227.703 for S&P, 75% of initial levels
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| Pricing date: | Oct. 11
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| Settlement date: | Oct. 17
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61769HZK4
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