By Sarah Lizee
Olympia, Wash., Oct. 4 – Morgan Stanley Finance LLC priced $10.27 million of 0% dual directional trigger Performance Leveraged Upside Securities due Oct. 5, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 200% of the index return, subject to a maximum payment amount of $12.525 per $10 principal amount of notes.
If the index finishes at or below its initial level but at or above its trigger level, the payout will be par plus the absolute value of the index return. The trigger level is 80% of the initial index level.
If the index finishes below its trigger level, investors will be fully exposed to the index’s decline from its initial level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger PLUS
|
| Underlying index: | S&P 500 index
|
| Amount: | $10,273,190
|
| Maturity: | Oct. 5, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above initial level, par plus 200% of index return, subject to a maximum payment amount of $12.525 per $10 principal amount of notes; if index finishes at or below initial level but at or above trigger level, par plus absolute value of index return; if index finishes below trigger level, full exposure to decline of index from initial level.
|
| Initial level: | 2,976.74
|
| Trigger level: | 2,381.392, or 80% of initial level
|
| Pricing date: | Sept. 30
|
| Settlement date: | Oct. 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 61769Q832
|
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