By Sarah Lizee
Olympia, Wash., May 13 – Morgan Stanley Finance LLC priced $5.85 million of 0% trigger Performance Leveraged Upside Securities due June 3, 2022 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the ETF finishes above its initial level, the payout at maturity will be par of $10 plus 150% of the ETF return, capped at par plus 40%.
If the ETF finishes at or below its initial level but at or above its trigger level, the payout will be par. The trigger level is 90% of the initial ETF level.
If the ETF finishes below its trigger level, investors will be fully exposed to the ETF’s decline from its initial level.
Morgan Stanley & Co. LLC is the agent. The dealer is Morgan Stanley Wealth Management.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying ETF: | Financial Select Sector SPDR Fund
|
| Amount: | $5,850,500
|
| Maturity: | June 3, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If ETF finishes above initial level, par plus 150% of ETF return capped at par plus 40%; if ETF finishes at or below initial level but at or above trigger level, par; if ETF finishes below trigger level, full exposure to decline
|
| Initial level: | $22.29
|
| Trigger level: | $20.06, 90% of initial levels
|
| Pricing date: | May 8
|
| Settlement date: | May 13
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 78014K717
|
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