Published on 2/12/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $569,000 contingent income autocalls tied to indexes
By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – Morgan Stanley Finance LLC priced $569,000 of contingent income autocallable securities due Feb. 9, 2023 linked to the least performing of the Russell 2000 index, the S&P 500 index and the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannually coupon at an annual rate of 6.7% if each index closes at or above its 80% coupon barrier on the determination date that period.
The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any call review date after one year.
The payout at maturity will be par unless any index finishes below its 60% downside threshold, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent with distribution through Morgan Stanley Wealth Management.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Contingent income autocallable securities
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| Underlying indexes: | Russell 2000, S&P 500 and Dow Jones Industrial Average
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| Amount: | $569,000
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| Maturity: | Feb. 9, 2023
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| Coupon: | 6.7% annualized, payable semiannually if each index closes at or above coupon barrier on determination date for that period
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| Price: | Par
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| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
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| Call: | At par if each index closes at or above initial level on any quarterly call date after a year
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| Initial index levels: | 1,507.168 for Russell, 2,695.14 for S&P and 24,912.77 for Dow
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| Coupon barriers: | 1,205.734 for Russell, 2,156.112 for S&P and 19,930.216 for Dow; 80% of initial levels
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| Trigger levels: | 904.301 for Russell, 1,617.084 for S&P and 14,947.662 for Dow; 60% of initial levels
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| Pricing date: | Feb. 6
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| Settlement date: | Feb. 9
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a distributor
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| Fees: | 4%
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| Cusip: | 61768CA80
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