Published on 6/13/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $311,000 autocallable jump notes on three indexes
By Marisa Wong
Morgantown, W.Va., June 13 – Morgan Stanley Finance LLC priced $311,000 of 0% jump securities with autocallable feature due June 3, 2024 linked to the worst performing of the S&P 500 index, Dow Jones industrial average and 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 called at par plus an annual premium of 9% if each index closes at or above 92% of its initial level on any annual review date.
The payout at maturity will be par plus 45% if each index finishes at or above 92% of its initial level. If the worst performing index declines by no more than 30%, the payout will be par. If the worst performing index finishes below its 70% downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | S&P 500 index, Dow Jones industrial average and Russell 2000 index
|
| Amount: | $311,000
|
| Maturity: | June 3, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | At par plus 9% a year if each index closes at or above 92% of initial level on any annual review date
|
| Payout at maturity: | If each index finishes at or above 92% of initial level, par plus 45%; if worst performing index falls by up to 30%, par; otherwise, full exposure to decline of worst performing index
|
| Initial levels: | 2,826.06 for S&P, 25,585.69 for Dow, 1,514.109 for Russell
|
| Call thresholds: | 2,599.975 for S&P, 23,538.835 for Dow, 1,392.980 for Russell; 92% of initial levels
|
| Downside thresholds: | 1,978.242 for S&P, 17,909.983 for Dow, 1,059.876 for Russell; 70% of initial levels
|
| Pricing date: | May 24
|
| Settlement date: | May 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61768D6Z3
|
|
|
© 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.
