By Marisa Wong
Morgantown, W.Va., April 5 – Morgan Stanley priced $5.21 million of 0% market plus notes due Sept. 26, 2018 linked to the Stoxx Europe 600 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index finishes below its initial level by more than the 28.1% knock-out buffer amount.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of the contingent minimum return of 0% and the index return.
Otherwise, the payout will be par plus the index return, with full exposure to any losses.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Morgan Stanley
|
| Issue: | Market plus notes
|
| Underlying index: | Stoxx Europe 600
|
| Amount: | $5,205,000
|
| Maturity: | Sept. 26, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above knock-out level, par plus any index gain with floor of 0%; otherwise, full exposure to losses
|
| Initial index level: | 376.51
|
| Knock-out level: | 270.711, 71.9% of initial level
|
| Final level: | Average of index closing levels on five averaging dates ending Sept. 21, 2018
|
| Pricing date: | March 24
|
| Settlement date: | March 29
|
| Agent: | Morgan Stanley & Co. LLC
|
| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.25%
|
| Cusip: | 61761J3Z0
|
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