By Susanna Moon
Chicago, April 2 – Morgan Stanley Finance LLC priced $3.14 million of 0% capped dual directional contingent buffered equity notes due April 3, 2019 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 return is positive, the payout at maturity will be par plus the index gain, up to a maximum upside return of 8%.
If the index falls by up to 16.75%, the payout will be par plus the absolute value of the index return.
If the index falls by more than the contingent buffer, investors will be fully exposed to any losses.
Morgan Stanley and J.P. Morgan Securities LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Capped dual directional contingent buffered equity notes
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| Underlying index: | S&P 500
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| Amount: | $3.14 million
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| Maturity: | April 3, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus any index gain, capped at 8%; if index falls by up to 16.12%, par plus absolute return; if index falls by more than 16.12%, full exposure to any losses
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| Initial level: | 2,752.01
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| Knock-out level: | 2,308.386, 83.88% of the initial level
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| Pricing date: | March 16
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| Settlement date: | March 21
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 61768CM79
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