By Sarah Lizee
Olympia, Wash., June 1 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due May 30, 2025 linked to the worst 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 7.5% per year if each index closes at or above its call level on any annual determination date. The call level for each index will be 95% of its initial level.
If the notes are not called and the final level of each index is greater than or equal to 95% of its initial level, the payout at maturity will be par plus 37.5%.
If the final level of the worst performing index is less than 95% of its initial level but greater than or equal to its downside threshold level, 70% of its initial level, the payout will be par.
If the final level of either index is less than its downside threshold level, investors will lose 1% for every 1% the lesser-performing index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | Dow Jones industrial average and Russell 2000 index
|
| Amount: | $250,000
|
| Maturity: | May 30, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically called at par plus 7.5% per year if each index closes at or above its call level on any annual determination date; call level for each index will be 95% of its initial level
|
| Payout at maturity: | If the notes are not called and the final level of each index is greater than or equal to 95% of its initial level, par plus 37.5%; if the final level of the worst performing index is less than 95% of its initial level but greater than or equal to its downside threshold level, par; if the final level of either index is less than its downside threshold level, 1% loss for every 1% the lesser-performing index declines from its initial level
|
| Initial levels: | 24,995.11 for Dow, 1,393.074 for Russell
|
| Call levels: | 23,745.355 for Dow, 1,323.42 for Russell; 95% of initial levels
|
| Downside thresholds: | 17,496.577 for Dow, 975.152 for Russell; 70% of initial levels
|
| Pricing date: | May 26
|
| Settlement date: | May 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4.25%
|
| Cusip: | 61771BAE4
|
|
|
© 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.
