New Issue: Morgan Stanley prices $648,300 notes with averaging linked to ETF basket

By Angela McDaniels

Tacoma, Wash., Aug. 4 – Morgan Stanley priced $648,300 of 0% market-linked notes due April 30, 2020 linked to a basket of exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the iShares MSCI EAFE ETF, the iShares MSCI Emerging Markets ETF and the WisdomTree Japan Hedged equity fund.

The payout at maturity will be par of $10 plus the basket return, subject to a minimum payout of par. The final basket level will be the average of the basket’s closing levels on 23 quarterly valuation dates.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley
Issue:	Market-linked notes
Underlying ETFs: iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF and WisdomTree Japan Hedged equity fund, equally weighted
Amount:	$648,300
Maturity:	April 30, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus basket return, subject to minimum payout of par
Initial share prices:	$66.59 for EAFE ETF; $43.82 for Emerging Markets ETF; $49.94 for Japan ETF
Final basket level:	Average of basket’s closing levels on 27th day of each January, April, July and October beginning on Oct. 27
Pricing date:	July 31
Settlement date:	Aug. 5
Agent:	Morgan Stanley & Co. LLC
Fees:	3%
Cusip:	61761S661

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