Morgan Stanley to price return enhanced notes on Regional Banking ETF

By Marisa Wong

Morgantown, W.Va., Nov. 16 – Morgan Stanley Finance LLC plans to price 0% return enhanced notes due Dec. 5, 2018 linked to the SPDR S&P Regional Banking exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the final share price is greater than the initial share price, the payout at maturity will be par plus two times the ETF gain, subject to a maximum return of 23.12%.

Investors will be fully exposed to any ETF decline.

Morgan Stanley & Co. LLC is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

The notes will price Nov. 17.

The Cusip number is 61761J4E6.

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