Published on 5/9/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $5.05 million jump autocalls tied to S&P, Stoxx, Dow
By Wendy Van Sickle
Columbus, Ohio, May 9 – Morgan Stanley Finance LLC priced $5.05 million of 0% jump securities with autocallable feature due May 6, 2021 linked to the least performing of the S&P 500 index, the Dow Jones industrial average 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 15% if each index closes at or above its initial level on any quarterly determination date after one year.
If each index closes at or above its initial level, the payout at maturity will be $1,450 per $1,000 principal amount.
If any index falls by up to its 75% 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
|
| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500, Dow Jones industrial average, Euro Stoxx 50
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| Amount: | $5,045,000
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| Maturity: | May 6, 2021
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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 45%; if either index falls by up to 25%, par; otherwise, 1% loss per 1% decline of worst performing index
|
| Call: | At par plus 15% annualized if each index closes at or above initial level on any quarterly determination date beginning May 2, 2019
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| Initial levels: | 2,648.05 for S&P, 24,163.15 for Dow and 3,536.52 for Stoxx
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| Trigger levels: | 1,986.038 for S&P, 18,122.363 for Dow and 2,652.39 for Stoxx, 75% of initial levels
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| Pricing date: | April 30
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| Settlement date: | May 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.25%
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| Cusip: | 61768Q221
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