By Sarah Lizee
Olympia, Wash., Jan. 2 – Morgan Stanley Finance LLC priced $5.22 million of 0% dual directional trigger Performance Leveraged Upside Securities due June 27, 2022 based on the performance of a WTI crude oil futures contract, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final commodity price is greater than the initial price, the payout at maturity will be par plus 1.5 times the gain, capped at par plus 33%.
If the commodity price falls by up to 30%, the payout will be par plus the absolute value of the asset return.
Otherwise, investors will be fully exposed to the decline in the commodity price.
Morgan Stanley & Co. LLC is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying commodity: | WTI crude oil futures contract
|
| Amount: | $5,217,000
|
| Maturity: | June 27, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any gain in commodity price, capped at par plus 33%; if price falls by up to 30%, par plus absolute value of return; otherwise, full exposure to decline
|
| Initial price: | $60.44
|
| Trigger price: | $42.308, 70% of initial level
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 26
|
| Agent: | Morgan Stanley & Co. LLC
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 48130UTA3
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