Published on 12/30/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.13 million contingent income autocallables on S&P, Nasdaq, Dow
By Kiku Steinfeld
Chicago, Dec. 30 – Morgan Stanley Finance LLC priced $2.13 million of contingent income autocallable securities due Dec. 23, 2021 tied to the lesser performing of the S&P500 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each six months, the notes will pay a contingent coupon at the rate of 8.25% per year if each index closes at or above its coupon threshold level, 75% of its initial level, on the related determination date.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any semiannual redemption determination date.
The payout at maturity will be par plus the coupon unless any index closes below its 75% downside threshold, in which case investors will be fully exposed to the performance of the least performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Dow Jones industrial average, S&P 500 index and Nasdaq-100 index
|
| Amount: | $2,125,000
|
| Maturity: | Dec. 23, 2021
|
| Coupon: | 8.25% per year, payable every six months if each index closes at or above coupon threshold level on related determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon unless any index closes below its downside threshold, in which case investors will be fully exposed to the performance of the least performing index
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any semiannual redemption determination date
|
| Initial levels: | 3,191.14 for S&P, 8,580.624 for Nasdaq, 28,239.28 for Dow
|
| Downside threshold levels: | 2,393.355 for S&P, 6,435.468 for Nasdaq, 21,179.46 for Dow, or 75% of initial levels
|
| Coupon thresholds: | 2,393.355 for S&P, 6,435.468 for Nasdaq, 21,179.46 for Dow, or 75% of initial levels
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.4%
|
| Cusip: | 61769H5Z4
|
|
|
|
|
|
|
|
|
© 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.
