Morgan Stanley to price capped gears due 2019 linked to SPDR S&P Oil

By Sarah Lizee

Olympia, Wash., Aug. 28 – Morgan Stanley Finance LLC plans to price 0% capped gears due Oct. 31, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP 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 25.75% to 26.75%.

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.

The notes will price on Aug. 29 and settle on Aug. 31.

The Cusip number is 61768R732.

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