Published on 6/14/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $792,000 callable contingent income notes on Russell, Stoxx
By Marisa Wong
Morgantown, W.Va., June 14 – Morgan Stanley Finance LLC priced $792,000 of callable contingent income securities due June 1, 2022 linked to the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will pay a contingent semiannual coupon at the rate of 8.75% per year if each index closes at or above the coupon barrier level, 70% of the initial index level, on the observation date for that period.
If each index finishes at or above the downside threshold level, 70% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the lesser-performing index’s decline from its initial level.
Beginning Dec. 3, the notes will be callable at par semiannually.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Callable contingent income securities
|
| Underlying index: | Russell 2000 index and Euro Stoxx 50 index
|
| Amount | $792,000
|
| Maturity: | June 1, 2022
|
| Coupon: | 8.75% per year, payable semiannually if each index closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case full exposure to worse-performing index’s decline from initial level
|
| Call option: | Beginning Dec. 3 at par semiannually
|
| Initial level: | 1,514.109 for Russell, 3,350.70 for Stoxx
|
| Coupon barrier: | 1,059.876 for Russell, 2,345.49 for Stoxx, 70% of initial level
|
| Downside threshold: | 1,059.876 for Russell, 2,345.49 for Stoxx, 70% of initial level
|
| Pricing date: | May 24
|
| Settlement date: | May 31
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | None
|
| Cusip: | 61768D7D1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
