By Sarah Lizee
Olympia, Wash., Jan. 15 – Morgan Stanley Finance LLC priced $4.49 million of 0% dual directional trigger Performance Leveraged Upside Securities due Jan. 28, 2021 linked to Brent crude oil futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
If the asset finishes above its initial level, the payout at maturity will be par plus 8%.
If the asset 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 asset return. The trigger level is 72.15% of the initial asset level.
If the asset finishes below its trigger level, investors will be fully exposed to the asset’s decline from its initial level.
Morgan Stanley & Co. LLC is the agent. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the placement agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional trigger PLUS
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| Underlying asset: | Brent crude oil futures contracts
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| Amount: | $4,485,000
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| Maturity: | Jan. 4, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If asset finishes above initial level, par plus 8%; if asset finishes at or below initial level but at or above trigger level, par plus absolute value of asset return; if asset finishes below trigger level, full exposure to decline of asset from initial level.
|
| Initial level: | $64.98
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| Trigger level: | $46.883, or 72.15% of initial level
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| Pricing date: | Jan. 10
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| Settlement date: | Jan. 15
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| Agent: | Morgan Stanley & Co. LLC
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| Placement agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
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| Fees: | 1%
|
| Cusip: | 61766YES6
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