Published on 9/21/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $9.58 million trigger autocallable contingent yield notes on Stoxx, Nasdaq
By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – Morgan Stanley Finance LLC priced $9.58 million of trigger autocallable contingent yield notes due Sept. 19, 2028 linked to the lesser performing of the Euro Stoxx 50 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The note are guaranteed by Morgan Stanley.
The notes will pay a contingent quarterly coupon at an annual rate of 7.32% if each index closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be called at par if each index closes at or above its initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless either index finishes below the 50% downside threshold, in which case investors will lose 1% for each 1% decline of the worse performing index.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Euro Stoxx 50, Nasdaq-100
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| Amount: | $9,579,840
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| Maturity: | Sept. 19, 2028
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| Coupon: | 7.32%, payable quarterly if each index closes at or above coupon barrier on observation date
|
| Price: | Par of $10
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| Call: | After one year, at par plus contingent coupon if both indexes close at or above initial levels on any quarterly observation date other than the final one
|
| Payout at maturity: | Par unless either index closes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
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| Initial levels: | 3,344.63 for Stoxx, 7,545.295 for Nasdaq
|
| Coupon barriers: | 2,341.24 for Stoxx, 5,281.847 for Nasdaq; 70% of initial levels
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| Downside thresholds: | 1,672.32 for Stoxx, 3,772.748 for Nasdaq; 50% of initial levels
|
| Pricing date: | Sept. 14
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| Settlement date: | Sept. 19
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| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61768R872
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