Published on 4/2/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.01 million jump autocalls on Dow, Russell
By Wendy Van Sickle
Columbus, Ohio, April 2 – Morgan Stanley Finance LLC priced $1.01 million of 0% jump securities with autocallable feature due March 31, 2022 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 7.25% if each index closes at or above 95% of its initial level on any annual determination date.
If each index finishes at or above 95% of its initial level, the payout at maturity will be $1,217.50 per $1,000 principal amount.
If either index finishes below 95% of its initial level but neither falls by more than 30%, 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: | $1,011,000
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| Maturity: | March 31, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above 95% of its initial level, par plus 21.75%; if either index finishes below 95% of initial level but neither falls by more than 30%, par; otherwise, 1% loss per 1% decline of worse performing index
|
| Call: | At par plus 7.25% annualized if each index closes at or above 95% of initial level on any annual determination date
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| Initial levels: | 25,657.73 for Dow, 1,528.166 for Russell
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| Call thresholds: | 24,374.844 for Dow, 1,451.758 for Russell, 95% of initial levels
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| Trigger levels: | 17,960.411 for Dow, 1,069.716 for Russell, 70% of initial levels
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| Pricing date: | March 26
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| Settlement date: | March 29
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61768DW76
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