By Susanna Moon
Chicago, Jan. 2 – Morgan Stanley Finance LLC priced $5.79 million of 0% dual directional trigger participation securities due Feb. 5, 2020 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes above its initial level, the payout at maturity will be par plus the gain up to a maximum return of 10%.
If the index falls by up to 15%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger participation securities
|
| Underlying index: | S&P 500
|
| Amount: | $5,785,500
|
| Maturity: | Feb. 5, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus return capped at 10%; if index falls by up to 15%, par plus absolute return; otherwise, 1% loss per 1% decline
|
| Initial level: | 2,599.95
|
| Trigger level: | 2,209.958, 85% of initial level
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 19
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 1.75%
|
| Cusip: | 61768W160
|
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