By Marisa Wong
Morgantown, W.Va., July 10 – Morgan Stanley Finance LLC priced $2.78 million of 0% capped gears due Aug. 31, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the fund finishes above its initial level, the payout at maturity will be par plus 3 times the gain, up to a maximum return of 27%.
If the fund return is negative, investors will lose 1% for each 1% decline.
Morgan Stanley & Co. LLC is the agent with UBS Financial Services Inc. as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Capped gears
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $2,781,000
|
| Maturity: | Aug. 31, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the fund finishes above its initial level, par plus 3 times the gain, up to a maximum return of 27%; full exposure to any fund decline
|
| Initial price: | $321.13
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | UBS Financial Services Inc.
|
| Fees: | 2%
|
| Cusip: | 61766W808
|
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