By Susanna Moon
Chicago, Nov. 29 – Morgan Stanley Finance LLC priced $1.22 million of 0% review notes due Nov. 20, 2019 linked to the Euro Stoxx Banks index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus an annual call premium of 17.2% if the index closes at or above the initial index level on either annual review date.
The payout at maturity will be par unless the index finishes below its 75% trigger level, in which case investors will be fully exposed to any losses.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Annual review notes
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| Underlying index: | Euro Stoxx Banks
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| Amount: | $1.22 million
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| Maturity: | Nov. 20, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par if index finishes at or above trigger; otherwise, 1% for each 1% decline
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| Call: | At par plus premium of 17.2% per year if index closes at or above call level on either annual review date
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| Initial index level: | 130.87
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| Trigger level: | 75% of initial level
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities Inc.
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| Fees: | 1.5%
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| Cusip: | 61768CUL9
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