Published on 10/15/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.84 million autocallable jump securities on three indexes
Chicago, Oct. 15 – Morgan Stanley Finance LLC priced $1.84 million of 0% jump securities with autocallable feature due Oct. 6, 2025 linked to the worst performing of the S&P 500 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 10.5% if each index closes at or above 90% of its initial level on any annual review date starting Oct. 5, 2020.
The payout at maturity will be par plus 63% if each index finishes at or above 90% of its initial level. If the worst performing index declines by no more than 25%, the payout will be par. If the worst performing index finishes below its 75% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $1,840,000
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| Maturity: | Oct. 6, 2025
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 10.5% a year if each index closes at or above 90% of initial level on any annual review date
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| Payout at maturity: | If each index finishes at or above 90% of initial level, par plus 63%; if worst performing index falls by up to 25%, par; otherwise, full exposure to decline of worst performing index
|
| Initial levels: | 2,961.79 for S&P, 26,820.25 for Dow, 1,520.476 for Russell
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| Call thresholds: | 2,665.611 for S&P, 24,138.225 for Dow, 1,368.428 for Russell; 90% of initial levels
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| Downside thresholds: | 2,221.343 for S&P, 20,115.188 for Dow, 1,140.357 for Russell; 75% of initial levels
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| Pricing date: | Sept. 27
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| Settlement date: | Oct. 4
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61769HUY9
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