Morgan Stanley to price autocallable jump securities on Stoxx, S&P Oil

By Sarah Lizee

Olympia, Wash., April 16 – Morgan Stanley Finance LLC plans to price 0% jump securities with autocallable feature due April 25, 2023 linked to the worse performing of the Euro Stoxx 50 index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to an FWP filing with the Securities and Exchange Commission.

Beginning April 20, 2020, the securities will be automatically called at par plus an early redemption payment at an annual rate of 16.85% if both assets close at or above their 90% of their initial values on any annual determination date.

If both assets end at or above 90% of their initial values the payout at maturity will be $1,674 per $1,000 principal amount.

The payout will be par if either asset declines but both finish at or above their downside threshold levels, 70% of their initial values.

The notes will give full exposure to the decline of the worse performing asset if either asset ends below its downside threshold.

Morgan Stanley & Co. LLC is the agent.

The notes will be guaranteed by Morgan Stanley.

The notes will price on April 18.

The Cusip number is 61768D6M2.

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