By Marisa Wong
Morgantown, W.Va., April 26 – Morgan Stanley Finance LLC priced $10.95 million of 0% dual directional trigger jump securities due April 27, 2021 linked 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 the greater of the gain and the upside payment of 40%.
If the index falls but finishes at or above the 70% trigger level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger jump securities
|
| Underlying index: | S&P 500
|
| Amount: | $10,946,000
|
| Maturity: | April 27, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above its initial level, par plus greater of gain and 40%; if index falls but finishes at or above trigger level, par plus absolute value of return; otherwise, investors will be fully exposed to any losses
|
| Initial index level: | 2,091.58
|
| Trigger level: | 1,464.106, 70% of initial level
|
| Pricing date: | April 22
|
| Settlement date: | April 27
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61766BAN1
|
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