Morgan Stanley plans contingent buffer notes on Regional Banking ETF

By Marisa Wong

Morgantown, W.Va., Jan. 4 – Morgan Stanley Finance LLC plans to price 0% contingent buffer equity notes due Jan. 24, 2019 linked to the SPDR S&P Regional Banking exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.

The notes will be guaranteed by Morgan Stanley.

If the final share price is greater than or equal to 85% of the initial share price, the payout at maturity will be par plus the greater of the contingent minimum return of 0% and the fund return, capped at 23.3%.

Otherwise, the payout will be par plus the fund return, with full exposure to any losses.

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 Jan. 5.

The Cusip number is 61768CXR3.

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