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Morgan Stanley plans capped gears due 2018 on basket of five funds
By Susanna Moon
Chicago, July 20 – Morgan Stanley Finance LLC plans to price 0% capped gears due Oct. 25, 2018 linked to a basket of exchange-traded funds, according to an FWP filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket consists of the SPDR S&P 500 ETF Trust with a 37% initial weight, the iShares Russell 2000 ETF with a 18% initial weight, the iShares MSCI EAFE ETF with a 18% initial weight, the iShares MSCI Emerging Markets ETF with a 12% initial weight and the SPDR Euro Stoxx 50 ETF with an 15% initial weight.
The payout at maturity will be par plus triple any basket gain, up to a maximum return of 12.75% to 13.88%. The exact cap will be set at pricing.
Investors will lose 1% for each 1% decline.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
The notes will price on July 21.
The Cusip number is 61766X368.
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