By Susanna Moon
Chicago, Feb. 27 – Morgan Stanley Finance LLC priced $1.25 million of 0% return enhanced notes due Feb. 22, 2019 linked to the SPDR S&P Bank ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The payout at maturity will be par plus 1.5 times any fund gain, up to a maximum return of 22.875%.
Investors will be exposed to any losses.
Morgan Stanley & Co. LLC is the agent with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Return enhanced notes
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| Underlying fund: | SPDR S&P Bank ETF
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| Amount: | $1.25 million
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| Maturity: | Feb. 22, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.5 times any fund gain, capped at 22.875%; exposure to any losses
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| Initial level: | $48.72
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| Pricing date: | Feb. 7
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| Settlement date: | Feb. 12
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| Agent: | Morgan Stanley & Co. LLC with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
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| Fees: | 1%
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| Cusip: | 61768CC39
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