By Tali Rackner
Minneapolis, May 1 – Morgan Stanley Finance LLC priced $3.2 million of 0% dual directional trigger Performance Leveraged Upside Securities due May 5, 2020 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the stock finishes above its initial level, the payout at maturity will be par of $10 plus 1.5 times the gain, subject to a maximum payment of $12.80 per trigger PLUS.
If the stock falls by up to its 20% trigger level, the payout will be par plus the absolute value of the stock return.
Otherwise, investors will be fully exposed to any losses.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying stock: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $3,194,950
|
| Maturity: | May 5, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If stock gains, par plus 1.5 times the return, capped at 28%; if stock falls by up to 20%, par plus absolute return; otherwise, 1% loss per 1% decline
|
| Initial share price: | $174.73
|
| Trigger level: | $139.784, 80% of initial price
|
| Pricing date: | April 13
|
| Settlement date: | April 18
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61768P652
|
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