By Susanna Moon
Chicago, Aug. 14 – Morgan Stanley Finance LLC priced $3.54 million of 0% trigger Performance Leveraged Upside Securities due Aug. 13, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 140% of any index gain, up to a maximum payment of $1,300 for each $1,000 principal amount.
Investors will receive par if the index falls by up to 25% and will be fully exposed to any losses if the index finishes below the 75% trigger level.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying index: | S&P 500
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| Amount: | $3.54 million
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| Maturity: | Aug. 13, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 140% of any index gain, capped at 30%; par if index falls by up to 25%; Otherwise, 1% loss per 1% decline
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| Initial level: | 2,474.92
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| Trigger level: | 1,856.19, 75% of initial level
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| Pricing date: | Aug. 8
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| Settlement date: | Aug. 11
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.75%
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| Cusip: | 61768CNV5
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