By Toni Weeks
San Luis Obispo, Calif., Aug. 11 – Morgan Stanley priced $3.6 million of 0% trigger Performance Leveraged Upside Securities due Aug. 21, 2018 linked to the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event occurs if the index falls to or below the trigger level on any day during the life of the notes.
If a trigger event has not occurred, the payout at maturity will be par plus 500% of any gain in the index, subject to a maximum payout of $2,500 per $1,000 principal amount of notes and a minimum payout of par.
If a trigger event has occurred and the index return is positive, the payout will be par plus the gain.
If a trigger event has occurred and the index return is zero or negative, investors will receive par plus the index return, with full exposure to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying index: | Hang Seng China Enterprises
|
| Amount: | $3.6 million
|
| Maturity: | Aug. 21, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If trigger event has not occurred par plus 5 times any index gain, with cap of 250% and floor of par; if trigger event has occurred, par plus index return, with full exposure to any losses
|
| Trigger event: | Occurs if index falls to or below trigger level during life of the notes
|
| Initial index level: | 10,876.61
|
| Trigger level: | 10,332.78, 95% of the initial level
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| Pricing date: | Aug. 7
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| Settlement date: | Aug. 21
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| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61761JSN0
|
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