Published on 7/2/2021 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $545,000 enhanced trigger jump securities on WTI crude
By Wendy Van Sickle
Columbus, Ohio, July 2 – Morgan Stanley Finance LLC priced $545,000 of 0% enhanced trigger jump securities due June 8, 2022 linked to the West Texas Intermediate Light Sweet Crude Oil Futures Contracts, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final commodity level is greater than or equal to the downside threshold level, 75% of the initial commodity level, the payout at maturity will be par plus 6.2%. Otherwise, investors will lose 1% for every 1% that the commodity declines from its initial level.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Enhanced trigger jump securities
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Underlying commodity: | West Texas Intermediate Light Sweet Crude Oil Futures Contracts
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Amount: | $545,000
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Maturity: | June 8, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final commodity level is greater than or equal to downside threshold level, par plus 6.5%; otherwise, 1% loss for every 1% that commodity declines from initial level
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Initial commodity level: | $63.58
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Downside threshold: | $47.685, 75% of initial level
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Pricing date: | May 21
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Settlement date: | May 26
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Agent: | Morgan Stanley & Co. LLC
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Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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Fees: | 1%
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Cusip: | 61771VC73
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