Morgan Stanley plans to price two-year knock-out notes linked to gold

By Angela McDaniels

Tacoma, Wash., Jan. 24 – Morgan Stanley Finance LLC plans to price 0% knock-out notes due Jan. 28, 2021 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

A knock-out event will occur if the final price of gold has declined from the initial price of gold by more than 20%.

If a knock-out event has not happened, the payout at maturity will be par plus the greater of zero and the gold return, subject to a maximum return of 21.5%.

If a knock-out event has occurred, investors will have one-to-one exposure to the decline in the price of gold.

Morgan Stanley & Co. LLC, J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.

The notes will price Jan. 25.

The Cusip number is 61766YDP3.

© 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.