By Angela McDaniels
Tacoma, Wash., June 5 – Morgan Stanley Finance LLC priced $1.89 million of 0% dual directional trigger jump securities due June 8, 2020 linked to the iShares U.S. Real Estate exchange-traded fund, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par plus 30%.
If the final share price is less than the initial share price but is greater than or equal to the trigger level, 77.36% of the initial share price, the payout will be par plus 50% of the absolute value of the ETF return.
If the final share price is less than the trigger level, investors will lose 1% for every 1% that the ETF declines from its initial share price.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger jump securities
|
| Underlying ETF: | iShares U.S. Real Estate ETF
|
| Amount: | $1,888,000
|
| Maturity: | June 8, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final share price is greater than or equal to initial share price, par plus 30%; if final share price is less than initial share price but is greater than or equal to trigger level, par plus 0.5% for every 1% that ETF declines; if final share price is less than trigger level, 1% loss for every 1% that ETF declines from initial share price
|
| Initial share price: | $79.16
|
| Trigger level: | $61.238, 77.36% of initial level
|
| Pricing date: | June 1
|
| Settlement date: | June 6
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 0.25%
|
| Cusip: | 61768CKU0
|
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