Published on 11/20/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $7.81 million autocallable jump securities tied to Stoxx, S&P
By Wendy Van Sickle
Columbus, Ohio, Nov. 20 – Morgan Stanley Finance LLC priced $7.81 million of 0% jump securities with autocallable feature due Nov. 21, 2022 linked to the worst performing of the S&P 500 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 9.05% if each index closes at or above its initial level on any semiannual review date.
The payout at maturity will be par plus 45.25% if each index finishes at or above its initial level. If the worst performing index declines by no more than 40%, the payout will be par. If the worst performing index finishes below its 60% downside threshold level, investors will be fully exposed to the decline.
Morgan Stanley & Co. LLC is the underwriter with Morgan Stanley Wealth Management as a dealer.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Chase Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500 index and Euro Stoxx 50 index
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| Amount: | $7,807,000
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| Maturity: | Nov. 21, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus 9.05% a year if each index closes above initial level on any semiannual review
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| Payout at maturity: | If each index finishes at or above downside threshold, par plus 45.25%; if worst performing index falls by up to 40%, par; otherwise, full exposure to loss of worst performing index
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| Initial index levels: | 3,564.80 for Euro Stoxx 50 and 2,585.64 for S&P 500
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| Downside thresholds: | 2,138.88 for Euro Stoxx 50 and 1,551.384 for S&P 500 50; 60% of initial levels
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| Pricing date: | Nov. 16
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| Settlement date: | Nov. 21
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| Agent: | J.P. Morgan Securities LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 2.85%
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| Cusip: | 61768CUE5
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