Published on 5/7/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $250,000 contingent income autocallables linked to Dow, Nasdaq
By Angela McDaniels
Tacoma, Wash., May 7 – Morgan Stanley Finance LLC priced $250,000 of contingent income autocallable securities due Aug. 4, 2020 linked to the lesser performing of the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each index closes at or above its downside threshold level, 70% of its initial level, on a monthly determination date, the notes will pay a contingent payment that month at an annualized rate of 7.5%.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on Oct. 30, Jan. 30, 2020 or April 30, 2020.
The payout at maturity will be par unless either index closes below its downside threshold level during the life of the notes, in which case the payout will be par plus the return of the lesser-performing index, subject to a maximum payout of par.
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 and Nasdaq-100
|
| Amount: | $250,000
|
| Maturity: | Aug. 4, 2020
|
| Coupon: | 7.5% per year, payable monthly if each index closes at or above downside threshold on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless either index closes below downside threshold level during life of notes, in which case par plus return of lesser-performing index, subject to maximum payout of par
|
| Call: | Automatically at par if each index closes at or above initial level on Oct. 30, Jan. 30, 2020 or April 30, 2020
|
| Initial levels: | 26,592.91 for Dow and 7,781.456 for Nasdaq-100
|
| Downside thresholds: | 18,615.037 for Dow and 5,447.019 for Nasdaq-100, or 70% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.625%
|
| Cusip: | 61768D5Q4
|
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