By Susanna Moon
Chicago, March 8 – Morgan Stanley Finance LLC priced $4.19 million of 0% jump securities with autocallable feature due Feb. 19, 2021 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annualized call premium of 11.71% if each index closes at or above its redemption threshold on any annual determination date after one year. The call level will be 100% of the initial level on the first observation date, stepping down to 95% on the second review date.
If each index closes at or above its 90% threshold, the payout at maturity will be $1,351.30 per $1,000 principal amount.
If either index falls by up to its 70% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Jump securities with autocallable feature
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Underlying index: | S&P 500, Euro Stoxx 50
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Amount: | $4.19 million
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Maturity: | Feb. 19, 2021
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Coupon: | 0%
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Price: | Par
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Call: | At par plus 11.71% annualized if each index closes at or above initial level on any annual determination date beginning Feb. 25, 2019; call level will be 100% of initial level on first observation date, stepping down to 95% on second review date
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Payout at maturity: | If each index gains or falls by up to 10%, par plus 35.13%; if either index falls by up to 30%, par; otherwise, 1% loss per 1% decline of worse performing index
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Initial index levels: | 2,732.22 for S&P and 3,426.80 for Stoxx
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Downside thresholds: | 1,912.554 for S&P and 2,398.76 for Stoxx, 70% of initial levels
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Pricing date: | Feb. 16
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Settlement date: | Feb. 22
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 2.25%
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Cusip: | 61768CE37
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