Published on 1/25/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1.04 million jump autocalls tied to three indexes
By Susanna Moon
Chicago, Jan. 25 – Morgan Stanley Finance LLC priced $1.04 million of 0% jump securities with autocallable feature due Jan. 24, 2025 linked to the least performing of the S&P 500 index, the Russell 2000 index and the 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 annualized call premium of 13.6% if each index closes at or above its initial level on any semiannual determination date.
If each index closes at or above its initial level, the payout at maturity will be $1,952 per $1,000 principal amount.
If any index falls by up to its 60% downside threshold, the payout will be $1,000 per $1,000 of notes.
Otherwise, investors will be fully exposed to any losses of the worst performing index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500, Russell 2000, Euro Stoxx 50
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| Amount: | $1,038,000
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| Maturity: | Jan. 24, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 95.2%; if either index falls by up to 40%, par; otherwise, 1% loss per 1% decline of worst performing index
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| Call: | At par plus 13.6% annualized if each index closes at or above initial level on any semiannual determination date beginning July 19, 2018
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| Initial levels: | 2,810.30 for S&P, 1,597.628 for Russell and 3,649.07 for Stoxx
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| Trigger levels: | 1,686.18 for S&P, 958.577 for Russell and 2,189.442 for Stoxx, 60% of initial levels
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| Pricing date: | Jan. 19
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| Settlement date: | Jan. 24
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.6%
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| Cusip: | 61768CYK7
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