By Wendy Van Sickle
Columbus, Ohio, Nov. 6 – Morgan Stanley Finance LLC priced $11.07 million of 0% dual directional trigger jump securities due Nov. 3, 2022 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the fund return is positive, the payout at maturity will be par of $10 plus the greater of the fund return and 31.75%.
If the fund falls by up to 20%, the payout will be par plus the absolute value of the fund return.
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
|
| Guarantor: | Morgan Stanley
|
| Issue: | Dual directional trigger jump securities
|
| Underlying ETF: | iShares MSCI Emerging Markets
|
| Amount: | $11,066,230
|
| Maturity: | Nov. 3, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If fund return is positive, par of $10 plus greater of fund return and 31.75%; par plus absolute value of fund return if fund falls by up to 20%; 1% loss for every 1% decline from initial level if fund drops more than 20%
|
| Initial level: | $46.28
|
| Trigger level: | $37.024, 80% of the initial share price
|
| Pricing date: | Oct. 31
|
| Settlement date: | Nov. 3
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.5%
|
| Cusip: | 61768J474
|
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