Published on 10/31/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $808,000 contingent income autocallables linked to indexes
Chicago, Oct. 31 – Morgan Stanley Finance LLC priced $808,000 of contingent income autocallable securities due Oct. 23, 2024 linked to the least performing of the Russell 2000 index, the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 5.25% per year if each index closes at or above its coupon threshold level, 70% of its initial level, on the determination date for that month.
Beginning Oct. 19, 2020, the notes will be automatically called at par if each index closes at or above its initial level on any quarterly redemption determination date.
The payout at maturity will be par unless any index closes below its 60% downside threshold level in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying indexes: | Russell 2000, Nasdaq-100 and Dow Jones industrial average
|
| Amount: | $808,000
|
| Maturity: | Oct. 23, 2024
|
| Coupon: | 5.25% per year, payable monthly if each index closes at or above coupon threshold on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any index closes below its downside threshold level, 60% of its initial level in which case investors will lose 1% for every 1% that the least-performing index declines from its initial level
|
| Call: | Beginning Oct. 19, 2020, automatically at par if each index closes at or above initial level on any quarterly redemption determination date
|
| Initial levels: | 1,535.482 for Russell 2000, 26,770.20 for Dow, 7,868.491 for Nasdaq
|
| Coupon thresholds: | 1,074.837 for Russell, 18,739.14 for Dow, 5,507.944 for Nasdaq, or 70% of initial levels
|
| Downside thresholds: | 921.289 for Russell, 16,062.12 for Dow, 6,062.12 for Nasdaq, or 60% of initial levels
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 23
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 4.025%
|
| Cusip: | 61769HWK7
|
|
|
© 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.
