Published on 7/5/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $250,000 autocallable jump securities on Russell, Dow
By Sarah Lizee
Olympia, Wash., July 5 – Morgan Stanley Finance LLC priced $250,000 of 0% jump securities with autocallable feature due July 1, 2022 linked to the worst performing of the Russell 2000 index and Dow Jones industrial average, 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 9.5% if each index closes at or above 95% of its initial level on any annual review date.
The payout at maturity will be par plus 28.5% if each index finishes at or above 95% 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
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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 index and Dow Jones industrial average
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| Amount: | $250,000
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| Maturity: | July 1, 2022
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 9.5% a year if each index closes at or above 95% of initial level on any annual review date
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| Payout at maturity: | If each index finishes at or above 95% of initial level, par plus 28.5%; if worst performing index falls by up to 30%, par; otherwise, full exposure to decline of worst performing index
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| Initial levels: | 1,566.572 for Russell, 26,599.96 for Dow
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| Call thresholds: | 1,488.243 for Russell, 25,269.962 for Dow; 95% of initial levels
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| Downside thresholds: | 1,096.6 for Russell, 18,619.972 for Dow; 70% of initial levels
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| Pricing date: | June 28
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| Settlement date: | July 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.5%
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| Cusip: | 61769HEH4
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