New Issue: Morgan Stanley sells $16 million capped leveraged notes tied to regional banking ETF

By Wendy Van Sickle

Columbus, Ohio, Feb. 15 – Morgan Stanley Finance LLC sold $16 million of 0% capped leveraged notes due Aug. 17, 2020 linked to the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Morgan Stanley.

If the ETF return is positive, the payout at maturity will be par plus 5 times the ETF gain, subject to a maximum payment of $1,252.50 per $1,000 of notes.

Investors will lose 1% for each 1% decline.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Issue:	Capped leveraged notes
Underlying ETF:	SPDR S&P Regional Banking ETF,
Amount:	$15,998,000
Maturity:	Aug. 17, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 5 times ETF gain, capped at $1,252.50 per $1,000 of notes; 1% loss for each 1% decline
Initial level:	$55.42
Pricing date:	Feb. 13
Settlement date:	Feb. 21
Agent:	Morgan Stanley & Co. LLC
Fees:	1.67%
Cusip:	61768DM28

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