By Cady Vishniac
Detroit, Nov. 23 – Morgan Stanley Finance LLC priced $3 million of 0% trigger Performance Leveraged Upside Securities due Nov. 24, 2023 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes above its initial level, the payout at maturity will be par plus 300% of the index return, capped at par plus 23.19%.
If the index finishes at or below its initial level but at or above its trigger level, the payout will be par. The trigger level is 75% of the initial index level.
If the index finishes below its trigger level, investors will be fully exposed to the index’s decline from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $3 million
|
| Maturity: | Nov. 24, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 3 times any index gain, capped at par plus 23.19%; par if index finishes flat or falls by up to 25%; otherwise, full exposure to losses
|
| Initial index level: | 3,567.79
|
| Trigger level: | 2,675.843, 85% of initial level
|
| Pricing date: | Nov. 18
|
| Settlement date: | Nov. 23
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.75%
|
| Cusip: | 61771ELW6
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
