By Angela McDaniels
Tacoma, Wash., Oct. 9 – Morgan Stanley priced $3.2 million of 0% buffered securities due March 31, 2020 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above its initial level, the payout at maturity will be par of $10 plus 42.702%.
If either index finishes below its initial level but each index’s final level is at least 80% of its initial level, the payout will be par plus 2.1351% for every 1% by which the final level of the worst-performing index exceeds 80% of its initial level.
If the final level of either index is less than 80% of its initial level, investors will lose 1% for every 1% that the worst-performing index declines beyond 20%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Buffered securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $3.2 million
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| Maturity: | March 31, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If each index finishes at or above initial level, par | plus 42.702%; if either index finishes below initial level but each index’s final level is at least 80% of initial level, par plus 2.1351% for every 1% by which final level of worst-performing index exceeds 80% of initial level; if final level of either index is less than 80% of initial level, 1% loss for every 1% that worst-performing index declines beyond 20%
|
| Initial index levels: | 1,951.36 for S&P 500 and 1,114.120 for Russell 2000
|
| Pricing date: | Oct. 5
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| Settlement date: | Oct. 8
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2%
|
| Cusip: | 61765R719
|
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