Published on 12/23/2019 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $63.29 million trigger autocallables linked to Russell, Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Dec. 23 – Morgan Stanley Finance LLC priced $63.29 million of trigger autocallable contingent yield notes due Dec. 27, 2029 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 6.09% per year if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
After one year, the notes will be automatically called at par of $10 if each index closes at or above its initial level on any quarterly observation date.
If the notes are not called and each index finishes at or above its downside threshold level, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Russell 2000 and Euro Stoxx 50
|
| Amount: | $63,293,170
|
| Maturity: | Dec. 27, 2029
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| Coupon: | 6.09% per year, payable quarterly if each index closes at or above coupon barrier on observation date for that quarter
|
| Price: | Par of $10.00
|
| Payout at maturity: | If notes are not called and each index finishes at or above downside threshold level, par; otherwise, 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call: | After one year, automatically at par if each index closes at or above initial level on any quarterly observation date
|
| Initial levels: | 1,671.901 for Russell 2000 and 3,776.56 for Euro Stoxx 50
|
| Coupon barriers: | 1,170.331 for Russell 2000 and 2,643.59 for Euro Stoxx 50, or 70% of initial levels
|
| Downside thresholds: | 1,003.141 for Russell 2000 and 2,265.94 for Euro Stoxx 50, or 60% of initial levels
|
| Pricing date: | Dec. 20
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| Settlement date: | Dec. 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 61770E513
|
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