By Tali Rackner
Minneapolis, May 1 – Morgan Stanley Finance LLC priced $1.34 million of 0% buffered Performance Leveraged Upside Securities due Nov. 4, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Morgan Stanley.
If the fund finishes above its initial level, the payout at maturity will be par plus double the return, up to a maximum return of 27.5%.
Investors will receive par if the fund falls by up to 10% and will lose 1% for each 1% decline beyond the buffer, subject to a minimum payment of $1 per buffered PLUS.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Buffered Performance Leveraged Upside Securities
|
| Underlying fund: | iShares MSCI Emerging Markets ETF
|
| Amount: | $1,335,400
|
| Maturity: | Nov. 4, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any fund gain, capped at 27.5%; if fund falls by up 10%, par; otherwise, 1% loss per 1% decline beyond 10%
|
| Initial level: | $47.57
|
| Pricing date: | April 13
|
| Settlement date: | April 18
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 2.5%
|
| Cusip: | 61768P637
|
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