By Sarah Lizee
Olympia, Wash., May 7 – Morgan Stanley Finance LLC priced $7.7 million of 0% dual directional trigger Performance Leveraged Upside Securities due May 4, 2022 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the stock finishes above its initial level, the payout at maturity will be par plus 137% of the stock return.
If the stock finishes at or below its initial level but at or above its trigger level, the payout will be par plus the absolute value of the stock return. The trigger level is 80% of the initial stock level.
If the stock finishes below its trigger level, investors will be fully exposed to the stock’s decline from its initial level.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying stock: | Apple Inc.
|
| Amount: | $7,704,150
|
| Maturity: | May 4, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If stock finishes above initial level, par plus 137% of stock return; if stock finishes at or below initial level but at or above trigger level, par plus absolute value of stock return; if stock finishes below trigger level, full exposure to decline
|
| Initial level: | $293.80
|
| Trigger level: | $235.04, 80% of initial level
|
| Pricing date: | April 30
|
| Settlement date: | May 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 61769P503
|
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