Published on 7/17/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $2.76 million jump autocalls on Dow, S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, July 17 – Morgan Stanley Finance LLC priced $2.76 million of 0% jump securities with autocallable feature due July 13, 2023 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 23.25% if each index closes at or above its call level, 95% of its initial level, on any quarterly determination date.
If each index finishes at or above its call level, the payout at maturity will be $1,697.50 per $1,000 principal amount.
If any index finishes below its call level but no index finishes below its 70% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to the losses of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | Russell 2000 index, S&P 500 index and Dow Jones industrial average
|
| Amount: | $2,761,000
|
| Maturity: | July 13, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above call level, $1,697.50 per $1,000 principal amount; if any index finishes below call level but no index finishes below downside threshold, par; otherwise, 1% loss per 1% decline of worst performing index
|
| Call: | At par plus 23.25% annualized if each index closes at or above 95% of initial level on any quarterly determination date
|
| Initial levels: | 3,169.94 for S&P, 10,279.250 for Nasdaq and 26,067.28 for Dow
|
| Downside thresholds: | 999.181 for Russell, 2,218.958 for S&P and 18,247.096 for Dow, 70% of initial levels
|
| Pricing date: | July 8
|
| Settlement date: | July 13
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61771BQE7
|
|
|
© 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.
