By Sarah Lizee
Olympia, Wash., June 18 – Morgan Stanley Finance LLC priced $4.93 million of 0% dual directional buffered participation securities due Jan. 5, 2021 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the index finishes at or above the initial level, the payout at maturity will par of $10 plus the return of the index, capped at par plus 11%.
If the index falls but by no more than the 10% buffer, the payout will be par plus the absolute value of the return.
If the index falls by more than 10%, investors will lose 1% for every 1% decline beyond the 10% buffer.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is a selected dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional buffered participation notes
|
| Underlying index: | Dow Jones industrial average
|
| Amount: | $4,930,820
|
| Maturity: | Jan. 5, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes at or above the initial level, the payout at maturity will be par plus index return, capped at par plus 11%; if the index falls but by no more than 10% , par of $10 plus absolute value of return; if the index falls by more than 10%, investors will lose 1% for each 1% decline beyond buffer
|
| Initial level: | 26,089.61
|
| Buffer level: | 23,480.649; 90% of initial level
|
| Pricing date: | June 14
|
| Settlement date: | June 19
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 61768Y661
|
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