By Susanna Moon
Chicago, May 2 – Morgan Stanley Finance LLC priced $958,900 of 0% capped buffer gears due April 30, 2020 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 22.4%.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.
The notes are guaranteed by Morgan Stanley.
UBS Financial Services Inc. and Morgan Stanley & Co. LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Capped buffer gears
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| Underlying index: | S&P 500
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| Amount: | $958,900
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| Maturity: | April 30, 2020
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | Par plus 200% of any gain, capped at 22.4%; if index falls by up to 10%, par; 1% loss per 1% decline beyond 10%
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| Initial level: | 2,639.40
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| Pricing date: | April 25
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| Settlement date: | April 30
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| Agents: | UBS Financial Services Inc. and Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61768P744
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