By Susanna Moon
Chicago, April 21 – Morgan Stanley Finance LLC priced $3 million of 0% dual directional trigger jump securities due May 3, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the fund finishes above its initial level, the payout at maturity will be par plus the upside payment of 52%.
If the fund falls but finishes at or above the 80% trigger level, the payout will be par plus the absolute value of the return.
Otherwise, 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: | Dual directional trigger jump securities
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| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $3 million
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| Maturity: | May 3, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If fund gains, par plus 52%; if fund falls by up to trigger level, par plus absolute value of return; otherwise, full exposure to any losses
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| Initial level: | $34.06
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| Trigger level: | $27.248, 80% of initial level
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| Pricing date: | April 19
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| Settlement date: | April 21
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
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| Cusip: | 61766B275
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