By Marisa Wong
Morgantown, W.Va., July 26 – Morgan Stanley Finance LLC priced $2.35 million of 0% buffered equity notes due July 22, 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.
The payout at maturity will be par plus any index gain, up to a maximum return of 20.5%.
Investors will receive par if the index falls by up to 20% and will lose 1.25% for each 1% decline beyond 20%.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are placement agents.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Buffered equity notes
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Underlying index: | S&P 500 index
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Amount: | $2.35 million
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Maturity: | July 22, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, up to a maximum return of 20.5%; par if the index falls by up to 20%; 1.25% loss for each 1% decline beyond 20%
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Initial level: | 2,801.83
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Final level: | Average of index closing levels on five trading days ending July 17, 2020
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Pricing date: | July 20
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Settlement date: | July 25
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Agent: | Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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Fees: | 1.5%
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Cusip: | 61768DAG0
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