Morgan Stanley to price market plus notes due 2020 linked to S&P 500

By Sarah Lizee

Olympia, Wash., Sept. 13 – Morgan Stanley Finance LLC plans to price 0% market plus notes due March 18, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

A knock-out event occurs if the index finishes below the initial level by more than the 15.9% knock-out buffer amount.

If a knock-out event does not occur, the payout at maturity will be par plus the greater of the index return and the contingent minimum return of 0%.

If the index falls by more than 15.9%, the payout will be par plus the index return, with full exposure to any losses.

The final level will be the average of the index closing levels on the five averaging dates ending March 13, 2020.

Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.

The notes will price on Sept. 14 and settle on Sept. 19.

The Cusip number is 61768DER2.

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