By Marisa Wong
Morgantown, W.Va., Nov. 19 – Morgan Stanley priced $3.43 million of 0% trigger Performance Leveraged Upside Securities due May 18, 2017 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes above the initial level, the payout at maturity will be par plus 300% of the gain, up to a maximum return of 23.25%.
If the fund falls by up to the 90% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying ETF: | Energy Select Sector SPDR fund
|
| Amount: | $3,432,160
|
| Maturity: | May 18, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If ETF return is positive, par plus 300% of fund return, subject to 23.25% maximum return; par if final share price is less than or equal to initial share price but greater than or equal to trigger level; full exposure to fund’s decline from initial share price if final share price is less than trigger level
|
| Initial share price: | $65.99
|
| Trigger level: | $59.391, 90% of initial price
|
| Pricing date: | Nov. 13
|
| Settlement date: | Nov. 18
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.25%
|
| Cusip: | 61765U126
|
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