By Angela McDaniels
Tacoma, Wash., July 9 – Morgan Stanley Finance LLC priced $760,000 of 0% market plus notes due Jan. 7, 2021 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%.
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 is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are acting as placement agents.
Issuer: | Morgan Stanley Finance LLC
|
Guarantor: | Morgan Stanley
|
Issue: | Market plus notes
|
Underlying index: | S&P 500
|
Amount: | $760,000
|
Maturity: | Jan. 7, 2021
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus greater of index return and zero unless index falls by more than 17%, in which case full exposure to index’s decline
|
Initial level: | 2,990.41
|
Final level: | Average of index’s closing levels on five trading days ending Jan. 4, 2021
|
Pricing date: | July 5
|
Settlement date: | July 10
|
Agent: | Morgan Stanley & Co. LLC
|
Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
Fees: | 1.25%
|
Cusip: | 61769HKX2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.