By Sarah Lizee
Olympia, Wash., Feb. 12 – Morgan Stanley Finance LLC priced $7.21 million of 0% dual directional trigger participation securities due May 5, 2021 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus the index return, capped at par plus 10.5%.
If the index declines by 10% or less, the payout will be par plus the absolute value of the index return.
If the index declines by more than 10%, investors will lose 1% for every 1% that the index declines from its initial level.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger participation securities
|
| Underlying index: | S&P 500
|
| Amount: | $7,212,900
|
| Maturity: | May 5, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the final index level is greater than the initial index level, par plus the index return, capped at par plus 10.5%; if the index declines by 10% or less, par plus the absolute value of the index return; if the index declines by more than 10%, 1% loss for every 1% that the index declines from its initial level
|
| Initial level: | 3,225.52
|
| Trigger level: | 2,902.968; 90% of initial level
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 5
|
| Agents: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management as a dealer
|
| Fees: | 2.25%
|
| Cusip: | 61770E760
|
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