By Angela McDaniels
Tacoma, Wash., Oct. 14 – Morgan Stanley priced $1.88 million of 0% optimal entry return enhanced notes due April 19, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The lookback level will be the index’s lowest closing level during the lookback observation period, which began on the pricing date and will end on Dec. 9.
If the final index level is greater than the lookback index level, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 13.65%. If the final index level is less than the lookback level, investors will be fully exposed to the decline.
J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Morgan Stanley
|
| Issue: | Optimal entry return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $1.88 million
|
| Maturity: | April 19, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than lookback index level, par plus 150% of index return, subject to maximum return of 13.65%; if final index level is less than lookback level, full exposure to decline
|
| Lookback index level: | Index’s lowest closing level from pricing date through Dec. 9
|
| Final index level: | Average of index’s closing levels on five trading days ending April 13, 2017
|
| Pricing date: | Oct. 9
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| Settlement date: | Oct. 15
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.25%
|
| Cusip: | 61761JN62
|
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