By Angela McDaniels
Tacoma, Wash., Nov. 4 – Morgan Stanley Finance LLC priced $16.35 million of 0% dual directional trigger Performance Leveraged Upside Securities due Nov. 3, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of 25.3%.
If the index finishes at or below the initial level but at or above the trigger level, the payout will be par plus the absolute value of the index return. The trigger level is 80% of the initial level.
If the index finishes below the trigger level, investors will be fully exposed to the index’s decline from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $16,350,100
|
| Maturity: | Nov. 3, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above initial level, par plus 200% of index return, subject to 25.3% maximum return; if index finishes at or below initial level but at or above trigger level, par plus absolute value of index return; if index finishes below trigger level, full exposure to decline
|
| Initial level: | 3,037.56
|
| Trigger level: | 2,430.048, or 80% of initial levels
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61770C350
|
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