By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – Morgan Stanley Finance LLC priced $1.8 million of 0% jump securities with autocallable feature due Nov. 1, 2023 linked to the Russell 2000 index and the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus an annualized call premium of 9.4% if each index closes at or above its call level on any quarterly determination date. The call level will be 100% of the initial level on the first determination date and will decrease by 5% a year.
If each index finishes at or above 90% of its initial level, the payout at maturity will be $1,282 per $1,000 principal amount.
If the laggard index falls by more than 10% but not more than 30%, investors will receive par.
Otherwise, investors will be fully exposed to the losses of the worse performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying index: | Russell 2000, MSCI Emerging Markets
|
| Amount: | $1,795,000
|
| Maturity: | Nov. 1, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 9.4% annualized if each index closes at or above its call level on any quarterly determination date; call level starts out at 100% of initial level on first date and drops by 5% a year
|
| Payout at maturity: | If each index finishes at or above 90% of initial level, par plus 28.2%; if laggard index finishes below 90% of initial level but not below 70% of initial level, par; otherwise, 1% loss per 1% decline of worse performing index
|
| Initial index levels: | 1,590.482 for Russell and 1,133.99 for EM index
|
| Downside thresholds: | 1,113.337 for Russell and 793.793 for EM index, 70% of initial levels
|
| Pricing date: | Oct. 27
|
| Settlement date: | Oct. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 61771EED6
|
|
|
© 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.
