By Sarah Lizee
Olympia, Wash., July 15 – Morgan Stanley Finance LLC priced $1.07 million of 10% fixed-rate buffered securities with downside factor and principal exposure due July 10, 2020 linked to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
Interest is payable quarterly.
If the final reference rate is greater than or equal to the downside threshold, the payout at maturity will be par. The downside threshold is 57% of the initial reference rate.
If the final reference rate is less than the downside threshold, investors will lose 1.754386% for every 1% decline from the initial rate beyond 57%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Fixed-rate buffered securities with downside factor and principal exposure
|
| Amount: | $1,065,000
|
| Maturity: | July 10, 2020
|
| Coupon: | 10%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | If final reference rate is greater than or equal to downside threshold, par; if final reference rate is less than downside threshold, 1.754386% loss for every 1% decline from the initial rate beyond 57%
|
| Initial reference rate: | 2.34075%
|
| Downside threshold: | 1.33423%, or 57% of initial reference rate
|
| Pricing date: | July 9
|
| Settlement date: | July 11
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.75%
|
| Cusip: | 61766YEE7
|
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