Published on 2/14/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.55 million contingent coupon notes linked to 10 stocks
By Angela McDaniels
Tacoma, Wash., Feb. 14 – Morgan Stanley Finance LLC priced $1.55 million of contingent coupon notes due Feb. 19, 2026 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket includes equal weights of Casey’s General Stores, Inc., Church & Dwight Co., Inc., Clorox Co., Coca-Cola Co., Eli Lilly and Co., Hormel Foods Corp., NextEra Energy, Inc., Post Holdings, Inc., Procter & Gamble Co. and Sysco Corp.
Interest is payable annually and equals the sum of the weighted performances of the basket stocks, subject to a minimum of zero.
If a stock’s return is greater than or equal to zero, its performance will be 9.15%. Otherwise, its performance will be equal to the greater of its return and negative 10%.
The payout at maturity will be par.
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 coupon notes
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| Underlying stocks: | Casey’s General Stores, Inc. (Nasdaq: CASY), Church & Dwight Co., Inc. (NYSE: CHD), Clorox Co. (NYSE: CLX), Coca-Cola Co. (NYSE: KO), Eli Lilly and Co. (NYSE: LLY), Hormel Foods Corp. (NYSE: HRL), NextEra Energy, Inc. (NYSE: NEE), Post Holdings, Inc. (NYSE: POST), Procter & Gamble Co. (NYSE: PG) and Sysco Corp. (NYSE: SYY)
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| Amount: | $1.55 million
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| Maturity: | Feb. 19, 2026
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| Coupon: | Equal to sum of basket stocks’ weighted performances, subject to minimum of zero; payable annually
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| Stock performance: | If stock’s return is greater than or equal to zero, 9.15%; otherwise, greater of stock return and negative 10%
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| Price: | Par
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| Payout at maturity: | Par
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| Initial share prices: | $131.28 for Casey’s General Stores, $64.18 for Church & Dwight, $155.49 for Clorox, $49.61 for Coca-Cola, $118.01 for Eli Lilly, $43.14 for Hormel, $183.01 for NextEra, $100.77 for Post, $98.27 for Procter & Gamble and $66.29 for Sysco (closing prices on Feb. 11)
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| Pricing date: | Feb. 12
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| Settlement date: | Feb. 19
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.25% Cusip: | 61768DR49
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