Published on 10/20/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $129,467 call warrants linked to Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – Morgan Stanley Finance LLC priced 2,300 call warrants due Nov. 5, 2018 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The warrants are guaranteed by Morgan Stanley.
The warrants have a notional amount of $1,000 each. The issue price is $56.29 per warrant, or 5.629% of the notional amount, for a total of $129,467.
The warrants will be automatically exercised on the expiration date. If the final index level is greater than the initial index level, the payout per $56.29 premium amount will be $1,000 multiplied by the index return. If the final index level is less than or equal to the initial level, the warrants will expire worthless, and investors will lose their entire investments in the warrants.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Call warrants
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| Underlying index: | Euro Stoxx 50
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| Warrants: | 2,300
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| Notional amount: | $1,000 each, or $2.3 million total
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| Price: | $56.29 each, or $129,467 total
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| Expiration date: | Oct. 31, 2018
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| Cash settlement date: | Nov. 5, 2018
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| Payout: | If index’s final level is greater than initial index level, $10,000 multiplied by index return; if final level is less than or equal to initial level, nothing
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| Initial index level: | 3,619.65
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| Final level: | Average of index closing levels on five trading days ending Oct. 31, 2018
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 23
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| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | $3.19 per warrant
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| Cusip: | 61768CSG3
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