By Wendy Van Sickle
Columbus, Ohio, April 3 – Morgan Stanley priced $1.4 million of 0% dual directional buffered Performance Leveraged Upside Securities due March 31, 2022 linked to the worse performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes above the initial level, the payout at maturity will be par plus 150.81% of the gain of the laggard asset.
If either asset falls but not by more than 30% of its initial level, the payout will be par plus the absolute value of the return of the lesser performing asset.
Otherwise, investors will be exposed to any losses of the lesser performing asset beyond the 30% buffer.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Dual directional buffered Performance Leveraged Upside Securities
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| Underlying assets: | Euro Stoxx 50 index and iShares MSCI EAFE ETF
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| Amount: | $1.4 million
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| Maturity: | March 31, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each asset is greater than initial level, par plus 150.81% of lesser-performing asset return; if lesser-performing asset falls by up to 30% buffer level, par plus absolute value of lesser-performing asset return; otherwise, exposure to loss of lesser-performing asset beyond 30%
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| Initial levels: | 3,278.72 for index, $69.61 for ETF
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| Pricing date: | March 26
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| Settlement date: | March 29
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| Agent: | Morgan Stanley & Co. LLC with Morgan Stanley Wealth Management handling distribution
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| Fees: | 2.85%
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| Cusip: | 61768CN78
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