By Susanna Moon
Chicago, April 9 – Morgan Stanley Finance LLC priced $5.19 million of 0% dual directional contingent buffered notes due April 16, 2019 linked to the S&P 500 index, according to a 424B2 filed 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 plus the greater of the gain up to a maximum upside return of 8% and the contingent minimum return of 0%.
If the index falls by up to 19.6%, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley and J.P. Morgan Securities LLC are the agents.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Capped dual directional contingent buffered equity notes
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| Underlying index: | S&P 500
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| Amount: | $5,185,000
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| Maturity: | April 16, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index gains, par plus greater of return capped at 8% and 0%; if index falls by up to 19.6%, par plus absolute return; if index falls by more than 16.12%, full exposure to any losses
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| Initial level: | 2,640.87
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| Knock-out level: | 2,123.259, 80.40% of initial level
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| Pricing date: | March 29
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| Settlement date: | April 4
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| Agents: | Morgan Stanley and J.P. Morgan Securities LLC
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| Fees: | 1%
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| Cusip: | 61768CQ59
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