By Sarah Lizee
Olympia, Wash., Aug. 18 – Morgan Stanley Finance LLC priced $781,000 0% bearish trigger jump securities due Jan. 8, 2021 based on the inverse performance of the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final index value is at or below 90% of the initial level, the payout at maturity will be par plus 21%.
If the final index value is above 90% of the initial level but less than or equal to the initial value, the payout will be par.
If the final index value is greater than the initial value, investors will lose 1% for every 1% increase of the index.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Bearish trigger jump securities
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| Underlying index: | S&P 500
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| Amount: | $781,000
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| Maturity: | Jan. 8, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final index value is at or below 90% of the initial level, par plus 21%; if index is above 90% of initial level but less than or equal to initial value; par; otherwise, 1% loss for every 1% increase of the index
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| Initial index level: | 3,327.77
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| Threshold level: | 2,994.993, 90% of initial level
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| Pricing date: | Aug. 7
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| Settlement date: | Aug. 12
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| Underwriter: | Morgan Stanley & Co. LLC
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 0.6%
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| Cusip: | 61771BE42
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