Published on 2/6/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $8.72 million step-down trigger autocalls on indexes
By Sarah Lizee
Olympia, Wash., Feb. 6 – Morgan Stanley Finance LLC priced $8.72 million of 0% step-down trigger autocallable notes due Jan. 31, 2024 linked to the lowest performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
After one year, the notes will be called at par plus a call return of 9.05% per year if each index closes at or above its initial level on any quarterly observation date or at or above its 70% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return of the worst performing index with full exposure to losses.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Step-down trigger autocallable notes
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| Underlying indexes: | S&P 500, Euro Stoxx 50, Russell 2000
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| Amount: | $8,719,780
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| Maturity: | Jan. 31, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus return of the worst performing index with full exposure to any losses
|
| Call: | After one year, at par plus a call return of 9.05% per year if each index closes at or above its initial level on any quarterly observation date or at or above its downside threshold on the final valuation date
|
| Initial levels: | 3,273.40 for S&P, 3,736.36 for Stoxx, 1,649.221 for Russell
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| Downside thresholds: | 2,291.38 for S&P, 2,615.45 for Stoxx, 1,154.455 for Russell; 70% of initial levels
|
| Trade date: | Jan. 29
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| Settlement date: | Jan. 31
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| Agent: | Morgan Stanley & Co. LLC
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| Dealer: | UBS Financial Services Inc.
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| Fees: | None
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| Cusip: | 61770G146
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