Published on 8/7/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $795,000 dual directional trigger jump notes on Dow, Russell
By Sarah Lizee
Olympia, Wash., Aug. 7 – Morgan Stanley Finance LLC priced $795,000 of 0% dual directional trigger jump securities due Aug. 5, 2024 linked to the least performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the least performing index finishes at or above its initial index level, the payout at maturity will be par of $10 plus the greater of the least performing index return and 47%.
If the final index level is less than the initial index level but greater than or equal to the trigger level, 70% of the initial index level, the payout will be par plus the absolute value of the least performing index return.
If the least performing index finishes below the trigger level, investors will lose 1% for every 1% that the least performing index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger jump securities
|
| Underlying indexes: | Dow Jones industrial average and Russell 2000
|
| Amount: | $795,000
|
| Maturity: | Aug. 5, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If least performing index finishes at or above initial level, par plus greater of least performing index return and 47%; if least performing index falls but finishes at or above trigger level, par plus absolute value of its return; if least performing index finishes below trigger level, 1% loss for every 1% that least performing index declines from initial level
|
| Initial levels: | 26,864.27 for Dow, 1,574.605 for Russell
|
| Trigger levels: | 18,804.989 for Dow, 1,102.224 for Russell, 70% of initial levels
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.125%
|
| Cusip: | 61769HJQ9
|
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