By Angela McDaniels
Tacoma, Wash., Nov. 18 – Morgan Stanley priced $817,370 of 0% dual directional trigger Performance Leveraged Upside Securities due Dec. 5, 2018 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 150% of the stock return, subject to a maximum return of 24.1%.
If the final share price is less than or equal to the initial share price but greater than or equal to the trigger level, the payout will be par plus the absolute value of the stock return. The trigger level 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 decline from the initial share price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $817,370
|
| Maturity: | Dec. 5, 2018
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than initial share price, par plus 150% of stock return, subject to 24.1% cap; if final share price is less than or equal to initial share price but greater than or equal to trigger level, par plus absolute value of stock return; if final share price is less than trigger level, full exposure to decline from initial share price
|
| Initial share price: | $109.99
|
| Trigger level: | $87.992, 80% of initial share price
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| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 21
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61766A574
|
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