Published on 2/12/2020 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $1 million autocallable jump securities on three indexes
Chicago, Feb. 12 – Morgan Stanley Finance LLC priced $1 million of 0% jump securities with autocallable feature due Feb. 3, 2023 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 12.5% if each index closes at or above the its initial level on any semiannual review date.
The payout at maturity will be par plus 37.5% if each index finishes at or above its initial level.
If either index falls by up to 30%, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing 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, Dow Jones industrial average and Russell 2000
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Amount: | $1 million
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Maturity: | Feb. 3, 2023
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Coupon: | 0%
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Price: | Par
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Call: | At par plus an annual premium of 12.5% if each index closes at or above the its initial level on any semiannual review date
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Payout at maturity: | Par plus 37.5% if each index finishes at or above its initial level; if either index falls by up to downside threshold, par; otherwise, investors will be fully exposed to the decline of the least performing index
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Initial levels: | 8,991.512 for Nasdaq, 28,256.03 for Dow, 1,614.061 for Russell
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Downside thresholds: | 6,294.058 for Nasdaq, 19,779.221 for Dow, 1,129.843 for Russell; 70% of initial levels
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.6%
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Cusip: | 61769H7R0
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