Published on 9/20/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $566,000 jump autocallables tied to indexes, fund
By Susanna Moon
Chicago, Sept. 20 – Morgan Stanley Finance LLC priced $566,000 of 0% jump securities with autocallable feature due June 10, 2022 linked to the lesser performing of the S&P 500 index, the Invesco QQQ Trust, series 1 and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized call premium of 7.85% if each underlying asset closes at or above its initial level on any determination date after six months.
If each asset closes at or above its 70% downside threshold, the payout at maturity will be $1,294.375 per $1,000 principal amount.
Otherwise, investors will be fully exposed to any losses of the worst performing index or fund.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| 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 assets: | S&P 500, Russell 2000, Invesco QQQ Trust, series 1
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| Amount: | $566,000
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| Maturity: | June 10, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each asset gains or falls by up to 30%, par plus 29.4375%; otherwise, 1% loss per 1% decline of worst performing index or fund
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| Call: | At par plus 7.85% annualized if each asset closes at or above initial level on any monthly determination date beginning March 7, 2019
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| Initial levels: | 2,871.68 for S&P, 1,713.18 for Russell and $181.11 for fund
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| Trigger levels: | 2,010.176 for S&P, 1,199.226 for Russell and $126.777 for fund, 70% of initial levels
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| Pricing date: | Sept. 7
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| Settlement date: | Sept. 12
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61768DEG6
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