Published on 1/2/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.81 million autocallable jump securities on three indexes
By Sarah Lizee
Olympia, Wash., Jan. 2 – Morgan Stanley Finance LLC priced $2.81 million of 0% jump securities with autocallable feature due Dec. 23, 2022 linked to the worst performing of the Nasdaq-100 index, Dow Jones industrial average and Russell 2000 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 annual premium of 9.5% if each index closes at or above the its initial level on any semiannual review date.
The payout at maturity will be par plus 28.5% if each index finishes at or above initial level. If the worst performing index declines but by no more than 30%, the payout will be par. If the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Nasdaq-100, Dow Jones industrial average and Russell 2000
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| Amount: | $2,809,000
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| Maturity: | Dec. 23, 2022
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus an annual premium of 9.5% if each index closes at or above its initial level on any semiannual review date
|
| Payout at maturity: | Par plus 28.5% if each index finishes at or above initial level; if the worst performing index declines by up to 30%, par; if the worst performing index finishes below its downside threshold level, investors will be fully exposed to the decline of that index
|
| Initial levels: | 8,678.491 for Nasdaq, 28,455.09 for Dow, 1,671.902 for Russell
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| Downside thresholds: | 6,074.944 for Nasdaq, 19,918.563 for Dow, 1,170.331 for Russell; 70% of initial levels
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| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.85%
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| Cusip: | 61769H3M5
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