Published on 8/1/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $2.21 million contingent income autocalls on Stoxx, Russell
By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – Morgan Stanley Finance LLC priced $2.21 million of contingent income autocallable securities due Aug. 2, 2029 linked to the least performing of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 7.02% per year if each index closes at or above its coupon barrier, 75% of its initial level, on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par unless any index finishes below its downside threshold, 60% of its initial price, in which case investors will be exposed to the decline of the least-performing index from its initial level.
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: | Contingent income autocallable securities
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| Underlying indexes: | Euro Stoxx 50, Russell 2000
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| Amount: | $2,208,000
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| Maturity: | Aug. 2, 2029
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| Coupon: | 7.02% per year, payable quarterly if each index closes at or above coupon barrier on determination date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless any index finishes below downside threshold, in which case exposure to decline of least-performing index from initial level
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| Call: | Automatically at par if each index closes at or above initial level on any quarterly determination date after one year
|
| Initial levels: | 3,523.58 for Stoxx, 1,569.025 for Russell
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| Coupon barriers: | 2,642.685 for Stoxx, 1,176.769 for Russell; 75% of initial levels
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| Downside thresholds: | 2,114.148 for Stoxx, 941.415 for Russell; 60% of initial levels
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| Pricing date: | July 29
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| Settlement date: | July 31
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 3.5%
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| Cusip: | 61769HKG9
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