By Marisa Wong
Morgantown, W.Va., July 10 – Morgan Stanley Finance LLC priced $7 million of 0% barrier Performance Leveraged Upside Securities due June 17, 2020 linked to the S&P GSCI Crude Oil Index – Excess Return, according to a 424B2 filing 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 of $1,000 plus 1,000% of the gain, subject to a maximum payment of $1,500 per PLUS.
If the index finishes flat or falls by no more than 20%, the payout will be par plus the index return. This amount will be less than $1,000 but not less than $800.
If the index finishes below its 80% barrier level, investors will receive $800 minus 2% for every 1% decline beyond 20%. This amount will be less than $800, and investors will lose the entire investment if the index has declined by 60% or more.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Barrier Performance Leveraged Upside Securities
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| Underlying index: | S&P GSCI Crude Oil Index – Excess Return
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| Amount: | $7 million
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| Maturity: | June 17, 2020
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | If the index finishes above its initial level, par plus 1,000% of the gain, subject to a maximum payment of $1,500 per PLUS; if the index finishes flat or falls by no more than 20%, par plus the index return; if the index finishes below its 80% barrier level, $800 minus 2% for every 1% decline beyond 20%
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| Initial level: | 134.1089
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| Barrier level: | 107.28712, 80% of initial level
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| Pricing date: | June 27
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| Settlement date: | June 30
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 1%
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| Cusip: | 61766YBR1
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