Published on 11/12/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million jump autocalls tied to Dow, Stoxx 50
By Susanna Moon
Chicago, Nov. 12 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due Nov. 2, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annual call premium of 10.8% if each index closes at or above its initial level on any annual determination date after six months.
If each index closes at or above its initial level, the payout at maturity will be $1,540 per $1,000 principal amount.
If either index falls by up to its 60% downside threshold, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Morgan Stanley.
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: | Dow Jones industrial average, Euro Stoxx 50 index
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| Amount: | $1 million
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| Maturity: | Nov. 2, 2023
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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 54%; if either index falls by up to 40%, par; otherwise, 1% loss per 1% decline of worse performing index
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| Call: | At par plus 10.8% annualized if each index closes at or above initial level on any annual determination date beginning April 29, 2019
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| Initial levels: | 24,442.92 for Dow, 3,154.93 for Stoxx
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| Trigger levels: | 14,665.752 for Dow, 1,892.958 for Stoxx, 60% of initial levels
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| Pricing date: | Oct. 29
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| Settlement date: | Oct. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3%
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| Cusip: | 61768DGZ2
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