By Wendy Van Sickle
Columbus, Ohio, March 1 – Morgan Stanley Finance LLC priced $731,000 of 0% autocallable securities with fixed percentage buffered downside due Feb. 28, 2020 linked to the Market Vectors Gold Miners exchange-traded fund, 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 a premium of 11% if the fund closes at or above its initial level Feb. 26, 2018 and will be called at par plus a premium of 22% if the fund closes at or above its initial level on Feb. 25, 2019.
If the fund return is at least 60% of its initial level, the payout at maturity will be par plus 33%. Otherwise, investors will lose 1% for each 1% decline beyond in the fund from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Autocallable securities with fixed percentage buffered downside
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| Underlying ETF: | Market Vectors Gold Miners
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| Amount: | $731,000
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| Maturity: | Feb. 28, 2020
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 33% if return at least 60% of initial level; otherwise, full exposure to loss
|
| Call: | At par plus 11% if fund closes at or above initial level on Feb. 26, 2018 or at par plus 22% if fund closes at or above initial level on Feb. 25, 2019
|
| Initial price: | $24.37
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| Threshold level: | $14.622, 60% of initial level
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
|
| Agents: | Morgan Stanley & Co. LLC
|
| Fees: | 2%
|
| Cusip: | 61768CES2
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