Published on 2/6/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1 million jump autocallables on three indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due Feb. 1, 2024 linked to the worst performing of the Nasdaq-100 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 7% if each index closes at or above 95% of its initial level on any of four annual call dates.
If the notes are not called and the worst-performing index declines by no more than 30%, the payout at maturity 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
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
|
| Amount: | $1 million
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| Maturity: | Feb. 1, 2024
|
| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 7% a year if each index closes at or above 95% of initial level on any of four annual call review dates
|
| Payout at maturity: | If notes are not called and worst performing index falls by up to 30%, par; otherwise, full exposure to decline of worst performing index
|
| Initial levels: | 9,101.613 for Nasdaq, 1,649.221 for Russell, 28,734.45 for Dow
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| Downside thresholds: | 6,371.129 for Nasdaq, 1,154.455 for Russell, 20,114.115 for Dow; 70% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Feb. 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.25%
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| Cusip: | 61770FEX0
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