Published on 12/13/2017 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley sells $510,000 market-linked notes tied to 18 stocks
By Marisa Wong
Morgantown, W.Va., Dec. 13 – Morgan Stanley Finance LLC priced $510,000 of 0% market-linked notes due June 10, 2024 linked to an equally weighted basket of 18 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket is composed of the American Depositary Shares of Unilever plc and the common stocks of Boeing Co., Quest Diagnostics Inc., Starbucks Corp., Barrick Gold Corp., Microsoft Corp., Wal-Mart Stores, Inc., Procter & Gamble Co., Raytheon Co., Lockheed Martin Corp., Merck & Co., Inc., Chevron Corp., Valero Energy Corp., Las Vegas Sands Corp., L Brands, Inc., Walt Disney Co., Northrop Grumman Corp. and Apple Inc.
The payout at maturity will be par plus 1.6 times any basket gain. If the basket falls, the payout will be par.
The basket return will be (a) the average basket closing value minus the initial basket value divided by (b) the initial basket value. The average basket closing value will be the average of the basket closing values on the seven annual averaging dates over the term of the notes.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Market-linked notes
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| Underlying basket: | Boeing Co. (Symbol: BA), Quest Diagnostics Inc. (Symbol: DGX), Starbucks Corp. (Symbol: SBUX), Barrick Gold Corp. (Symbol: ABX), Unilever plc (Symbol: UL), Microsoft Corp. (Symbol: MSFT), Wal-Mart Stores, Inc. (Symbol: WMT), Procter & Gamble Co. (Symbol: PG), Raytheon Co. (Symbol: RTN), Lockheed Martin Corp. (Symbol: LMT), Merck & Co., Inc. (Symbol: MRK), Chevron Corp. (Symbol: CVX), Valero Energy Corp. (Symbol: VLO), Las Vegas Sands Corp. (Symbol: LVS), L Brands, Inc. (Symbol: LB), Walt Disney Co. (Symbol: DIS), Northrop Grumman Corp. (Symbol: NOC) and Apple Inc. (Symbol: AAPL); equally weighted
|
| Amount: | $510,000
|
| Maturity: | June 10, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.6 times any basket gain; if basket falls, par
|
| Basket return: | (a) average basket closing value minus initial basket value divided by (b) initial basket value; average basket closing value is average of the basket closing values on Dec. 5, 2018, Dec. 5, 2019, Dec. 7, 2020, Dec. 6, 2021, Dec. 5, 2022, Dec. 5, 2023 and June 5, 2024
|
| Initial prices: | $275.54 for Boeing, $97.87 for Quest, $59.34 for Starbucks, $13.77 for Barrick, $55.86 for Unilever, $81.59 for Microsoft, $97.83 for Wal-Mart, $91.40 for P&G, $183.85 for Raytheon, $310.14 for Lockheed, $55.77 for Merck, $120.39 for Chevron, $85.78 for Valero, $69.44 for Las Vegas, $55.30 for L, $107.22 for Disney, $297.75 for Northrop, $169.64 for Apple
|
| Pricing date: | Dec. 5
|
| Settlement date: | Dec. 8
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 0.75%
|
| Cusip: | 61768CVR5
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