Published on 6/12/2018 in the Prospect News Structured Products Daily.
New Issue: Morgan Stanley prices $887,000 dual direction trigger PLUS tied to Dow, Russell
By Susanna Moon
Chicago, June 12 – Morgan Stanley Finance LLC priced $887,000 of 0% dual directional trigger Performance Leveraged Upside Securities due June 5, 2023 linked to the lesser performing of the Russell 2000 index Dow Jones Industrial Average, according to a 424B2 filed with the Securities and Exchange Commission.
If each index finishes above its initial level, the payout at maturity will be par plus 4 times the gain of the worse performing index up to a maximum payment of $1,700 per $1,000 principal amount.
If either index falls by up to 45%, the payout will be par plus the absolute value of the index return of the worse performing index.
Otherwise, investors will be fully exposed to any losses of the worse performing index.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying indexes: | Russell 2000 index, Dow Jones industrial average
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| Amount: | $887,000
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| Maturity: | June 5, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If each index gains, par plus 400% of return of worse performing index, capped at 70%; if either index falls by up to 45%, par plus absolute return of worse performing index; otherwise, 1% loss per 1% decline of worse performing index
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| Initial levels: | 24,415.84 for Dow, 1,633.609 for Russell
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| Trigger levels: | 13,428.712 for Dow, 898.485 for Russell, 55% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1.125%
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| Cusip: | 61768CZ26
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