Published on 11/13/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $600,000 dual directional trigger PLUS on index, ETFs
By Sarah Lizee
Olympia, Wash., Nov. 13 – Morgan Stanley Finance LLC priced $600,000 of 0% dual directional trigger Performance Leveraged Upside Securities due Nov. 3, 2022 linked to the lesser performing of the Euro Stoxx 50 index, the iShares MSCI Emerging Markets ETF and the iShares MSCI EAFE ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If each asset finishes above its initial level, the payout at maturity will be par plus 325% of the return of the least performing asset.
If any asset finishes at or below its initial level but each one finishes at or above its trigger level, 80% of its initial level, the payout will be par plus the absolute value of the return of the least performing asset.
If any asset finishes below its trigger level, investors will lose 1% for every 1% that the least performing asset declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying assets: | Euro Stoxx 50 index, iShares MSCI Emerging Markets ETF and iShares MSCI EAFE ETF
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| Amount: | $600,000
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| Maturity: | Nov. 3, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each asset finishes above its initial level, par plus 325% of the return of the least performing asset; if any asset finishes at or below its initial level but each one finishes at or above its trigger level, par plus the absolute value of the return of the least performing asset; if any asset finishes below its trigger level, 1% loss for every 1% that the least performing asset declines from its initial level
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| Initial levels: | 3,604.41 for Stoxx, $42.58 for EM ETF, $67.42 for EAFE
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| Trigger levels: | 2,883.528 for Stoxx, $34.064 for EM ETF, $53.936 for EAFE; 80% of initial levels
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| Pricing date: | Nov. 1
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| Settlement date: | Nov. 6
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.26%
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| Cusip: | 61769HN27
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