By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – Morgan Stanley Finance LLC plans to price 0% buffered Performance Leveraged Upside Securities due Sept. 21, 2020 linked to the iShares U.S. Real Estate exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The payout at maturity will be par plus 375% of any fund gain, up to a maximum return of 60.375%.
Investors will receive par if the fund falls by up to 20% and will lose 1.25% for every 1% decline beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
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| Issue: | Buffered Performance Leveraged Upside Securities
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| Underlying fund: | iShares U.S. Real Estate ETF
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| Amount: | $1 million
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| Maturity: | Sept. 21, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 375% of any fund gain, with return capped at 60.375%; par if fund falls by 20% or less; 1.25% loss for every 1% decline beyond 20%
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| Initial share price: | $79.38
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| Pricing date: | Sept. 16
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| Settlement date: | Sept. 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61768CAE7
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