By Marisa Wong
Morgantown, W.Va., Aug. 16 – Morgan Stanley Finance LLC priced $1.41 million of 0% buffered return enhanced notes due Aug. 12, 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 2 times any index gain, up to a maximum return of 14.86%.
Investors will receive par if the index declines by up to 20% and will lose 1.25% 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
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| Guarantor: | Morgan Stanley
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| Issue: | Buffered return enhanced notes
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| Underlying index: | S&P 500
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| Amount: | $1.41 million
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| Maturity: | Aug. 12, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 2 times any index gain, capped at 14.86%; par if index falls by up to 20%; 1.25% loss per 1% drop beyond 20%
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| Initial level: | 2,833.28
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 15
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| Agent: | Morgan Stanley & Co. LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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| Fees: | 1.5%
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| Cusip: | 61768DBZ7
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