Morgan Stanley to price capped gears on SPDR S&P Oil & Gas ETF

By Marisa Wong

Morgantown, W.Va., March 20 – Morgan Stanley Finance LLC plans to price 0% capped gears due May 31, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the ETF return is greater than zero, the payout at maturity will be par of $10 plus 3 times the ETF return, subject to a maximum gain that is expected to be 23.15% to 27.15% and will be set at pricing. If the ETF return is negative, investors will be exposed to the ETF’s decline.

Morgan Stanley & Co. LLC is the agent. UBS Financial Services Inc. is acting as dealer.

The notes will price on March 26.

The Cusip number is 61768P264.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.