By Wendy Van Sickle
Columbus, Ohio, July 25 – Morgan Stanley Finance LLC priced $4 million of 8% buffered securities due July 27, 2017 linked to the 10-Year U.S. Dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The coupon is payable quarterly.
If the final swap rate is greater than or equal to the threshold swap rate, 60% of the initial swap rate, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1.666667% for each 1% the rate declines beyond 40%, but will still receive the final coupon.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered securities
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| Underlying rate: | 10-Year U.S. Dollar ICE swap rate
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| Amount: | $4 million
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| Maturity: | July 27, 2017
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| Coupon: | 8%, payable quarterly
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| Price: | Par of $10
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| Payout at maturity: | If final swap rate is greater than or equal to the threshold swap rate, par plus the final coupon; otherwise, investors will lose 1.666667% for each 1% the rate declines beyond 40%, but will still receive final coupon
|
| Initial level: | 1.497
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| Pricing date: | July 21
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| Settlement date: | July 26
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1%
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| Cusip: | 61766YAH4
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