By Sarah Lizee
Olympia, Wash., Aug. 7 – Morgan Stanley Finance LLC priced $450,000 of 0% buffered participation securities due Nov. 5, 2020 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
The payout at maturity will be par plus any index gain.
If the index falls by up to 10%, the payout will be par.
If the index falls by more than 10%, investors will lose 1% for every 1% decline of the index beyond 10%.
Morgan Stanley & Co. LLC is the agent.
Issuer: | Morgan Stanley Finance LLC
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Guarantor: | Morgan Stanley
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Issue: | Buffered participation securities
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Underlying index: | S&P 500
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Amount: | $450,000
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Maturity: | Nov. 5, 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; if the index falls by up to 10%, par; if the index falls by more than 10%, 1% loss for every 1% decline of the index beyond 10%
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Initial index level: | 2,980.38
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Buffer level: | 2,682.342; 90% of initial level
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Pricing date: | July 31
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Settlement date: | Aug. 5
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Agent: | Morgan Stanley & Co. LLC
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Fees: | 0.6%
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Cusip: | 61769HLC7
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