By Marisa Wong
Morgantown, W.Va., March 26 – Morgan Stanley Finance LLC priced $11.6 million of 0% commodity-linked partial principal at risk securities due March 25, 2020 linked to the Bloomberg Commodity Index 3 Month Forward, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity for each $1,000 principal amount will be $957.70 plus the supplemental redemption amount, which is equal to the index return and subject to a floor of zero. If the index does not gain by at least 4.23%, investors will receive less than par.
Morgan Stanley & Co. LLC is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Commodity-linked partial principal at risk securities
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| Underlying index: | Bloomberg Commodity Index 3 Month Forward
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| Amount: | $11.6 million
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| Maturity: | March 25, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | 95.77% of par plus supplemental redemption amount that is equal to the index return and subject to a floor of zero
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| Initial level: | 209.0582
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| Final level: | Average of closing levels on five trading days ending March 20, 2020
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Underwriter: | Morgan Stanley & Co. LLC with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents
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| Fees: | 1.5%
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| Cusip: | 61766YCN9
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