By Devika Patel
Knoxville, Tenn., Dec. 27 – Morgan Stanley Finance LLC priced $1.1 million of 0% buffered return enhanced notes due Jan. 8, 2020 linked to the Invesco QQQ Trust, series 1, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par plus double any gain, up to a maximum payout of 15.7%.
Investors will receive par if the fund declines by up to 10% and will lose 1.1111% for each 1% decline beyond the buffer.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered return enhanced notes
|
| Underlying fund: | Invesco QQQ Trust
|
| Amount: | $1.1 million
|
| Maturity: | Jan. 8, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any gain, capped at 15.7%; par if fund falls by up to 10%; 1.1111% loss per 1% drop beyond 10%
|
| Initial level: | $147.57
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agent: | Morgan Stanley & Co. LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
|
| Fees: | 1%
|
| Cusip: | 61768DVD4
|
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