Published on 4/15/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $4.36 million jump autocallables on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 15 – Morgan Stanley Finance LLC priced $4.36 million of 0% jump securities with autocallable feature due April 10, 2025 linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the 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 16% if each index closes at or above its initial level on any call dates.
If the notes are not called and each index finishes at or above its initial level, the payout at maturity will be $1,800 for each $1,000 principal amount of notes. If any index falls but each index finishes at or above its 70% downside threshold level, investors will receive par. Otherwise, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
|
| Amount: | $4,363,000
|
| Maturity: | April 10, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 16% a year if each index closes at or above initial level on any annual call review date
|
| Payout at maturity: | If notes are not called and each index finishes at or above its initial level, $1,800 for each $1,000 principal amount of notes; if any index falls but each index finishes at or above its downside threshold, par; otherwise, full exposure to decline of worst performing index
|
| Initial levels: | 2,659.41 for S&P, 1,139.17 for Russell, 22,653.86 for Dow
|
| Downside thresholds: | 1,861.587 for S&P, 797.419 for Russell, 15,857.702 for Dow; 70% of initial levels
|
| Pricing date: | April 7
|
| Settlement date: | April 13
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.625%
|
| Cusip: | 61770FD60
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
