By Wendy Van Sickle
Columbus, Ohio, March 8 – Morgan Stanley Finance LLC priced $5 million of 0% trigger jump securities due Sept. 7, 2020 linked to the 10-Year U.S. Dollar ICE swap rate, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the reference rate finishes at or above its reference rate strike of 3.5%, the payout at maturity will be par plus 31.5%. If the reference rate is below the rate strike but above its initial level, the payout at maturity will equal par plus 6%.
If the reference rate falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level.
J.P. Morgan Securities LLC is the agent, with Morgan Stanley Wealth Management as dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
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| Issue: | Trigger jump securities
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| Underlying rate | : | 10-Year U.S. Dollar ICE swap rate
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| Amount: | $5 million
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| Maturity: | Sept. 7, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If reference rate finishes at or above reference rate strike of 3.5%, par plus 31.5%; if reference rate finishes below rate strike but above its initial level, par plus 6%; par if reference rate falls by up to 20%; otherwise, investors will lose 1% for each 1% decline from the initial level
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| Initial reference rate: | 2.834%
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| Trigger value: | 2.2672%, 80% of initial rate
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| Pricing date: | Feb. 28
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| Settlement date: | March 6
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| Agent: | J.P. Morgan Securities LLC
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 2%
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| Cusip: | 61766YCK5
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