Published on 11/12/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $616,000 jump autocalls on Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, Nov. 12 – Morgan Stanley Finance LLC priced $616,000 of 0% jump securities with autocallable feature due Nov. 4, 2021 linked to the lesser 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 will be called at par plus an annual call premium of 10.5% if each index closes at or above its initial level on any annual determination date after one year.
If each index closes at or above its initial level, the payout at maturity will be $1,315 per $1,000 principal amount.
If any index falls by up to its 60% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| 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: | Russell 2000, Dow Jones industrial average
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| Amount: | $616,000
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| Maturity: | Nov. 4, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 31.5%; if either index falls by up to 40%, par; otherwise, 1% loss per 1% decline of worse performing index
|
| Call: | At par plus 10.5% annualized if each index closes at or above initial level on any annual determination date
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| Initial levels: | 25,115.76 for Dow, 1,511.413 for Russell
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| Trigger levels: | 15,069.456 for Dow, 906.848 for Russell, 60% of initial levels
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| Pricing date: | Oct. 31
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| Settlement date: | Nov. 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.7%
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| Cusip: | 61768DGT6
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