Published on 2/28/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $3.74 million jump autocalls tied to Dow, Stoxx 50
By Kiku Steinfeld
Chicago, Feb. 28– Morgan Stanley Finance LLC priced $3.74 million of 0% jump securities with autocallable feature due Feb. 11, 2027 linked to the lesser performing of the Euro Stoxx 50 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 14.5% if each index closes at or above its initial level on any annual determination date.
If each index closes at or above its initial level, the payout at maturity will be $2,015 per $1,000 principal amount of notes.
If either index falls by up to its 70% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Jump securities with autocallable feature
|
| Underlying indexes: | Dow Jones industrial average, Euro Stoxx 50 index
|
| Amount: | $3,739,000
|
| Maturity: | Feb. 11, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index gains, par $2,015 per $1,000 principal amount of notes; if either index falls by up to 30%, par; otherwise, 1% loss per 1% decline of worse performing index
|
| Call: | At par plus 14.5% annualized if each index closes at or above initial level on any annual determination date
|
| Initial levels: | 29,102.5 for Dow, 3,798.49 for Stoxx
|
| Trigger levels: | 20,371.757 for Dow, 2,658.943 for Stoxx, 70% of initial levels
|
| Pricing date: | Feb. 7
|
| Settlement date: | Feb. 12
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.28%
|
| Cusip: | 61770FEY8
|
|
|
© 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.
