Published on 5/29/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $307,000 autocallable buffered jump securities on Dow, Russell
By Sarah Lizee
Olympia, Wash., May 29 – Morgan Stanley Finance LLC priced $307,000 of 0% buffered jump securities with autocallable feature due June 1, 2022 linked to the worse performing of 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 automatically called at par plus a premium on any semiannual call date after six months if each index closes at or above its initial level. The premium will be 8.25% per year.
If each index finishes at or above its initial level, the payout at maturity will be par plus 16.5%.
If either index falls by up to 15%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the lesser-performing underlying index declines beyond 15%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered jump securities with autocallable feature
|
| Underlying indexes: | Dow Jones industrial average, Russell 2000
|
| Amount: | $307,000
|
| Maturity: | June 1, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above its initial level, par plus 16.5%; if either index falls by up to 15%, par; 1% loss for every 1% that the lesser-performing underlying index declines beyond 15%
|
| Call: | Automatically called at par on any semiannual call date after six months if each index closes at or above its initial level; premium will be 8.25% per year
|
| Initial levels: | 24,995.11 for Dow, 1,393.074 for Russell
|
| Buffer levels: | 21,245.844 for Dow, 1,184.113 for Russell, 85% of initial levels
|
| Pricing date: | May 26
|
| Settlement date: | May 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.6%
|
| Cusip: | 61771BCD4
|
|
|
© 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.
