By Angela McDaniels
Tacoma, Wash., June 3 - Morgan Stanley priced $15.9 million of 0% dual directional trigger Performance Leveraged Upside Securities due May 29, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 113% of the index return.
If the final index level is less than or equal to the initial index level but is greater than or equal to the trigger level, the payout will be par plus the absolute value of the index return. The trigger level is 65% of the initial index level.
If the final index level is less than the trigger level, investors will be fully exposed to the decline from the initial index level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $15,901,050
|
| Maturity: | May 29, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than initial index level, par plus 113% of index return; if final index level is less than or equal to initial index level but greater than or equal to trigger level, par plus absolute value of index return; if final index level is less than trigger level, full exposure to decline from initial index level
|
| Initial index level: | 1,923.57
|
| Trigger level: | 1,250.321, 65% of initial level
|
| Pricing date: | May 30
|
| Settlement date: | June 4
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61760S878
|
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