Published on 12/19/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.14 million contingent income autocalls on three indexes
Chicago, Dec. 19 – Morgan Stanley Finance LLC priced $1.14 million of contingent income autocallable securities due Dec. 12, 2022 linked to the lesser performing of the S&P 500 index, the Swiss Market index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at the rate of 5% per year plus any previously unpaid coupons if each index closes at or above 65% of its initial level on the related observation date.
The notes will be automatically called at par plus the coupon if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the coupon and any unpaid coupons unless either index finishes below its downside threshold level, 65% of its initial level, in which case investors will lose 1% for every 1% decline of the lesser-performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | S&P 500 index, the Swiss Market index and the Euro Stoxx 50 index
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| Amount: | $1,140,000
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| Maturity: | Dec. 12, 2022
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| Coupon: | 5% per year plus any previously unpaid coupons, payable quarterly if each index closes at or above 65% of its initial level on any relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon and any previously unpaid coupons unless either index finishes below downside threshold level, in which case exposure to losses
|
| Call: | Automatically at par plus coupon if each index closes at or above initial level on any quarterly observation date after six months
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| Initial levels: | 3,112.76 for S&P, 10,334.56 for Swiss, 3,660.02 for Stoxx
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| Downside threshold levels: | 2,023.294 for S&P, 6,717.464 for Swiss, 2,379.013 for Stoxx, 65% of initial levels
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| Pricing date: | Dec. 4
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| Settlement date: | Dec. 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.8%
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| Cusip: | 61769H3Y9
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