New Issue: Morgan Stanley prices $1.75 million market-linked notes on S&P 500

By Jennifer Chiou

New York, Dec. 30 – Morgan Stanley priced $1,747,000 of 0% market-linked notes with 10% principal at risk due Dec. 31, 2020 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain, up to a maximum return of 61.5%.

If the index falls, investors will share in up to 10% of losses. The minimum payout is 90% of par.

Morgan Stanley & Co. LLC and UBS Financial Services Inc. are the agents.

Issuer:	Morgan Stanley
Issue:	Market-linked notes
Underlying index:	S&P 500
Amount:	$1,747,000
Maturity:	Dec. 31, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, capped at 61.5%; exposure to first 10% of losses, floor of 90% of par
Initial index level:	2,088.77
Pricing date:	Dec. 26
Settlement date:	Dec. 31
Agents:	Morgan Stanley & Co. LLC and UBS Financial Services Inc.
Fees:	3.5%
Cusip:	61761JVF3

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