By Wendy Van Sickle
Columbus, Ohio, Nov. 29 – Morgan Stanley Finance LLC priced $4.5 million of 0% trigger Performance Leveraged Upside Securities due May 24, 2019 linked to the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
The notes will be called at par plus 8% if the fund finishes above its initial level on May 21, 2018.
If the fund return is positive, the payout at maturity will be par plus 150% of the fund return, up to a maximum return of 12%.
If the fund falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline from the initial level.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
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| Guarantor: | Morgan Stanley
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| Issue: | Trigger Performance Leveraged Upside Securities
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| Underlying ETF: | VanEck Vectors Gold Miners
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| Amount: | $4.5 million
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| Maturity: | May 24, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | Automatically at par plus 8% if fund finishes above initial level on May 21, 2018
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| Payout at maturity: | If fund return is positive, par of $10 plus 150% of fund return, subject to maximum payment of $12.00 per PLUS; par if fund falls by up to 20%; 1% loss for every 1% decline from initial level if fund drops more than 20%
|
| Initial level: | $22.72
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| Trigger level: | $18.176, 80% of the initial share price
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| Pricing date: | Nov. 21
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| Settlement date: | Nov. 27
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| Agent: | Morgan Stanley & Co. LLC
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| Fees: | 2.5%
|
| Cusip: | 61768K430
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