Published on 9/18/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1 million autocallable jump securities on three indexes
By Sarah Lizee
Olympia, Wash., Sept. 18 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due Sept. 16, 2022 linked to the worst performing of the Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus an annual premium of 10.1% if each index closes at or above its initial level on any semiannual review date starting March 13, 2020.
The payout at maturity will be par plus 30.3% if each index finishes at or above 92% of its initial level. If the worst performing index declines by no more than 35%, the payout will be par. If the worst performing index finishes below its 65% downside threshold level, investors will be fully exposed to the decline of that index.
Morgan Stanley & Co. LLC is the underwriter.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Jump securities with autocallable feature
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| Underlying indexes: | Nasdaq-100 index, Dow Jones industrial average and Russell 2000 index
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| Amount: | $1 million
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| Maturity: | Sept. 16, 2022
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| Coupon: | 0%
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| Price: | Par
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| Call: | At par plus 10.1% a year if each index closes at or above initial level on any semiannual review date starting March 13, 2020
|
| Payout at maturity: | If each index finishes at or above initial level, par plus 30.3%; if worst performing index falls by up to 35%, par; otherwise, full exposure to decline of worst performing index
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| Initial levels: | 7,892.955 for Nasdaq, 27,219.52 for Dow, 1,578.138 for Russell
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| Downside thresholds: | 5,130.421 for Nasdaq, 17,692.688 for Dow, 1,025.790 for Russell; 65% of initial levels
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| Pricing date: | Sept. 13
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| Settlement date: | Sept. 18
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61769HVC6
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