By Angela McDaniels
Tacoma, Wash., April 4 – Morgan Stanley Finance LLC priced $425,000 of 0% market plus notes due Sept. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
A knock-out event will occur if the final index level is less than the initial index level by more than 17.1%.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of the index return and zero. If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than the initial index level.
Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Market plus notes
|
| Underlying index: | S&P 500
|
| Amount: | $425,000
|
| Maturity: | Sept. 30, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus greater of index return and zero unless index falls by more than 17.1%, in which case full exposure to index’s decline
|
| Initial level: | 2,834.4
|
| Final level: | Average of index’s closing levels on five trading days ending Sept. 25, 2020
|
| Pricing date: | March 29
|
| Settlement date: | April 3
|
| Agents: | Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.25%
|
| Cusip: | 61768D3X1
|
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