Published on 10/4/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $640,000 jump autocallables linked to MAP Trend
By Angela McDaniels
Tacoma, Wash., Oct. 4 – Morgan Stanley Finance LLC priced $640,000 of 0% jump notes with autocallable feature due Sept. 30, 2026 linked to the Morgan Stanley MAP Trend index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 6% per year if the index closes at or above the applicable redemption threshold level on any annual determination date. The redemption threshold is 103.5% of the initial index level on the first determination date and increases by 3.5 percentage points each year.
If the notes are not called and the final index level is greater than the initial index level, the payout at maturity will be par plus the index return. If the final index level is less than or equal to the initial index level, the payout will be par.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump notes with autocallable feature
|
| Underlying index: | Morgan Stanley MAP Trend index
|
| Amount: | $640,000
|
| Maturity: | Sept. 30, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus index return; if final index level is less than or equal to initial index level, par
|
| Call: | Automatically at par plus 6% per year if index closes at or above applicable redemption threshold level on any annual determination date
|
| Initial level: | 232.71
|
| Redemption thresholds: | 240.855, or 103.5% of initial level, on Sept. 28, 2020; 249.000, or 107% of initial level, on Sept. 27, 2021; 257.145, or 110.5% of initial level, on Sept. 26, 2022; 265.289, or 114% of initial level, on Sept. 25, 2023; 273.434, or 117.5% of initial level, on Sept. 25, 2024; and 281.579, of 121% of initial level on Sept. 25, 2026
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4.25%
|
| Cusip: | 61769HTJ4
|
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