By Susanna Moon
Chicago, April 9 – Morgan Stanley Finance LLC priced $1.1 million of 0% equity-linked partial principal at risk securities due April 2, 2020 linked to the S&P 500 index, 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 any index gain, up to a maximum return of $1,198 per $1,000 principal amount.
If the index falls, the payout will be par plus the return, with a minimum payout of $900 per $1,000 of notes.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Equity-linked partial principal at risk securities
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| Underlying index: | S&P 500
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| Amount: | $1.1 million
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| Maturity: | April 2, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any index gain, capped at 19.8%; if index falls, par plus return, floor of 90% of par
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| Initial level: | 2,605
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | None
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| Cusip: | 61768CR25
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