Published on 6/25/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $1.81 million autocallable jump notes linked to three indexes
By Angela McDaniels
Tacoma, Wash., June 25 – Morgan Stanley Finance LLC priced $1.81 million 0% jump securities with autocallable feature due June 28, 2024 linked to the worst performing of the S&P 500 index, the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 8% per year if each index closes at or above its call threshold level, 92% of its initial level, on any annual determination date.
If the notes have not previously been redeemed and the final level of each index is greater than or equal to its call threshold level, the payout at maturity will be par plus 40%.
If the final level of any index is less than its call threshold level but the final level of each index is greater than or equal to its downside threshold level, 70% of its initial level, the payout will be par.
If the final level of any index is less than its downside threshold level, investors will lose 1% for every 1% that the worst-performing index declines from its initial level.
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: | Jump securities with autocallable feature
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| Underlying indexes: | S&P 500, Dow Jones industrial average and Russell 2000
|
| Amount: | $1,812,000
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| Maturity: | June 28, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If final level of each index is greater than call threshold level, par plus 40%; if final level of any index is less than call threshold level but final level of each index is greater than or equal to its downside threshold level, par; if final level of any index is less than downside threshold level, 1% loss for every 1% that worst-performing index declines from its initial level
|
| Initial levels: | 2,950.46 for S&P 500, 26,719.13 for Dow and 1,549.628 for Russell 2000
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| Call threshold levels: | 2,714.423 for S&P 500, 24,581.600 for Dow and 1,425.658 for Russell 2000, or 92% of initial levels
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| Downside thresholds: | 2,065.322 for S&P 500, 18,703.391 for Dow and 1,084.740 for Russell 2000, or 70% of initial levels
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| Pricing date: | June 21
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| Settlement date: | June 28
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2%
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| Cusip: | 61769HFE0
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