By Marisa Wong
Morgantown, W.Va., July 21 – Morgan Stanley Finance LLC priced $33.79 0% dual directional trigger Performance Leveraged Upside Securities due July 6, 2020 linked to the Vanguard FTSE Developed Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 200% of the ETF return, subject to a maximum return of 22%.
If the final share price is less than or equal to the initial share price but greater than or equal to the trigger share price, the payout will be par plus the absolute value of the ETF return. The trigger share price is 80% of the initial share price.
If the final share price is less than the trigger share price, investors will be fully exposed to the ETF’s decline from the initial share price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying ETF: | Vanguard FTSE Developed Markets ETF
|
| Amount: | $33,789,750
|
| Maturity: | July 6, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final share price is greater than the initial share price, par plus 200% of the ETF return, subject to a maximum return of 22%; if the final share price is less than or equal to the initial share price but greater than or equal to the trigger share price, par plus the absolute value of the ETF return; otherwise, investors will be fully exposed to the ETF’s decline from the initial share price
|
| Initial price: | $41.32
|
| Trigger level: | $33.056, 80% of initial price
|
| Pricing date: | June 30
|
| Settlement date: | July 6
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3%
|
| Cusip: | 61766X236
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
