Published on 12/2/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.58 million step-down trigger autocallables on Russell, Dow
By Sarah Lizee
Olympia, Wash., Dec. 2 – Morgan Stanley Finance LLC priced $1.58 million of 0% step-down trigger autocallable notes due Nov. 20, 2024 linked to the lowest performing of the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Starting Nov. 19, 2020, the notes will be called at par plus a call return of 9.44% if each index closes at or above its initial level on any quarterly observation date or at or above its 75% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return with full exposure to any losses of the worse performing index.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | Russell 2000 index and Dow Jones industrial average
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| Amount: | $1,577,000
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| Maturity: | Nov. 20, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus return with full exposure to any losses of the worse performing index
|
| Call: | Starting Nov. 19, 2020, at par plus a call return of 9.44% per year if each index closes at or above its initial level on any quarterly observation date after one year or at or above its downside threshold on the final valuation date
|
| Initial levels: | 1,596.454 for Russell, 28,004.89 for Dow
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| Downside thresholds: | 1,197.341 for Russell, 21,003.67 for Dow; 75% of initial levels
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| Trade date: | Nov. 15
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| Settlement date: | Nov. 20
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| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | None
|
| Cusip: | 61770C756
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