By Marisa Wong
Madison, Wis., May 19 – Morgan Stanley priced $11.97 million of 0% participation securities due Nov. 20, 2018 linked to the Morgan Stanley SmartInvest Equity Index (Price Return), according to a 424B2 filing with the Securities and Exchange Commission.
The index is a quantitative, rules-based, long-only equity index that aims to invest, at any one time, in 40 stocks included in the S&P 500 index that are among the more concentrated held by hedge funds, as reported on their forms 13F.
If the final index level is greater than the initial level, the payout at maturity will be par plus the gain. Investors will participate in any decline in the index from the initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Participation securities
|
| Underlying index: | Morgan Stanley SmartInvest Equity Index (Price Return)
|
| Amount: | $11,968,000
|
| Maturity: | Nov. 20, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial level, par plus index gain; full exposure to any losses
|
| Initial level: | 5,335.25
|
| Pricing date: | May 15
|
| Settlement date: | May 20
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61765G135
|
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