By Susanna Moon
Chicago, June 20 – Morgan Stanley Finance LLC priced $1.27 million of 0% trigger Performance Leveraged Upside Securities due June 5, 2020 linked to a basket consisting of an index and two exchange-traded funds, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The basket consists of the S&P 500 index with a 45% weight, iShares MSCI EAFE ETF with a 40% weight and iShares MSCI Emerging Markets ETF with a 15% weight.
If the basket finishes above its initial level, the payout at maturity will be par plus 150% of the gain, up to a maximum return of $1,369.30 for each $1,000 principal amount.
If the basket falls by no more than 30%, the payout will be par.
If the basket finishes below its 70% trigger level, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying basket: | S&P 500 index (45% weight), iShares MSCI EAFE ETF (40% weight) and iShares MSCI Emerging Markets ETF (15% weight)
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| Amount: | $1,271,000
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| Maturity: | June 5, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket gains, par plus 150% of return, capped at 36.93%; if basket falls by up to 30%, par; otherwise, full exposure to any losses
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| Initial levels: | 2,411.80 for S&P, $66.06 for MSCI EAFE and $41.20 for MSCI EM
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| Trigger levels: | 70% 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: | 0.65%
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| Cusip: | 61768CKN6
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