By Marisa Wong
Morgantown, W.Va., March 13 – Morgan Stanley Finance LLC priced $16.93 million of 0% dual directional trigger jump securities due March 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the index return and the upside payment of 37.5%.
If the index falls but finishes at or above the trigger level, 80% of the initial index level, the payout will be par plus the absolute value of the index return.
If the index finishes below the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger jump securities
|
| Underlying index: | S&P 500
|
| Amount: | $16,934,000
|
| Maturity: | March 4, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above its initial level, par plus the greater of the index return and 37.5%; if the index falls but finishes at or above the trigger level, par plus the absolute value of the index return; if the index finishes below the trigger level, 1% loss for every 1% that the index declines from its initial level
|
| Initial level: | 2,784.49
|
| Trigger level: | 2,227.592, 80% of initial level
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 5
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61768X390
|
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