By Angela McDaniels
Tacoma, Wash., Jan. 4 – Morgan Stanley priced $2 million of 0% buffered securities due July 1, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each index is greater than or equal to its threshold level, 96% of its initial level, the payout at maturity will be par of $10 plus 41.5%.
If the final level of either index is less than its threshold level but the final level of each index is greater than or equal to 79% of its initial level, the payout will be par plus 2.4412% for every 1% by which the lesser-performing index’s final level exceeds 79% of its initial level.
If the final level of either index is less than 79% of its initial level, investors will lose 1.2658% for every 1% that the lesser-performing index declines beyond 21%.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Buffered securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2 million
|
| Maturity: | July 1, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final level of each index is greater than or equal to threshold level, par plus 41.5%; if final level of either index is less than threshold level but final level of each index is greater than or equal to 79% of initial level, par plus 2.4412% for every 1% by which lesser-performing index’s final level exceeds 79% of its initial level; if final level of either index is less than 79% of its initial level, 1.2658% loss for every 1% that lesser-performing index declines beyond 21%
|
| Initial index levels: | 2,063.36 for S&P 500 and 1,149.643 for Russell 2000
|
| Threshold values: | 1,980.826 for S&P 500 and 1,103.657 for Russell 2000; 96% of initial levels
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61765U654
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